Asked by Olivia Wilma on Jun 12, 2024
Verified
Which of the following would be considered an "other comprehensive income" item?
A) net income
B) extraordinary loss related to flood
C) gain on disposal of discontinued operations
D) unrealized loss on available-for-sale securities
Other Comprehensive Income
A component of total comprehensive income that includes unrealized gains and losses affecting shareholders' equity not included in net income.
Unrealized Loss
A loss that results from holding onto an investment that has decreased in value, but has not yet been sold by the investor.
Net Income
The final financial gain of a business after subtracting total costs and taxation from its aggregate income.
- Acquire knowledge on the concept of comprehensive income and its contributing components.
Verified Answer
Learning Objectives
- Acquire knowledge on the concept of comprehensive income and its contributing components.
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