Ine statement of changes in equity, or the equity statement: a. indicates the ability of the entity to generate cash flow. b. shows the selling price of the entity's assets. c. shows how profit was determined. d. Serves as a connecting link between the income statement an of financial position (balance sheet). A balance sheet or the statement of financial position: a. is classified into operating, investing and financing activities. b. measures the entities financial performance. c. lists assets, liabilities and equity at a specific point in time. d. shows how profit was determined. Which of the following statements concerning the income statem statement) is not true? a. The heading must indicate the length of time the report cov b. It shows the change in the entity's cash balance for the per c. If expenses exceed income than a loss has been incurred d. An alternative name is the statement of financial performar Which of the following statements concerning equity is true? a. It is the owner's claim to the assets of the entity after dedu b. It is fixed at the amount initially contributed when the busin c. It is decreased by profit. d. Assets + liabilities = equity