Asked by Maggie Westmoreland on May 08, 2024
Verified
Comprehensive income/(loss) includes
A) net income/(loss) and accumulated other comprehensive income/(loss) .
B) net income/(loss) and other comprehensive income/(loss) .
C) other comprehensive income/(loss) and accumulated other comprehensive income/(loss) .
D) other comprehensive income/(loss) only.
Comprehensive Income
It encompasses all changes in equity during a period, except those resulting from investments by and distributions to owners.
Net Income
The total earnings of a company after all expenses and taxes have been deducted from revenue, indicating the company's profit.
Other Comprehensive Income
Other Comprehensive Income includes revenues, expenses, gains, and losses that are not included in net income but affect equity, such as unrealized gains on securities.
- Understand the idea of total comprehensive income and its elements.
Verified Answer
Learning Objectives
- Understand the idea of total comprehensive income and its elements.
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