The statement of owner's equity: multiple choice
a. reports how equity changes at a point in time.
b. reports on cash flows for operating, financing, and investing activities at a point in time.
c. reports on cash flows for operating, financing, and investing activities over a period of time.
d. reports on amounts for assets, liabilities, and equity at a point in time.
e. reports how equity changes over a period of time.

E. Reports how equity changes over a period of time.

Explanation:

Statement of owner's equity as the name suggests is the statement which describes the changes in owner's equity, as it is obvious that the change cannot occur at a point of time, it will occur over a period of time.

And therefore, the statement is prepared over a period generally for a fiscal year, or a financial year.

There is no statement prepared to show any change in owner's equity at a point.

Statement reporting cash flows is called cash flow statement.

Therefore, correct option is:

Statement E

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