Answer:
b. Statement of financial position
Explanation:
IFRS accounting standards issued by International Accounting Standards Board (IASB) and the IFRS Foundation. IFRS equivalence of a GAAP's balance sheet is the statement of financial position. It has a T-structure and it is used to record assets, liabilities and shareholders' equity. It is used to determine liquidity and company's ability to meet its debt obligations. Other IFRS financial statements include a statement of profit and loss and a statement of cash flows for the period.
