Comprehensive income is ________.
A)income earned by a company over an entire fiscal year
B)included in the calculation of net income
C)not included in the calculation of net income
D)income earned by a company including all of its business segments

Question

Quizplus · Accepted Answer

Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. It includes both net income (from the income statement) and other comprehensive income (OCI) (from items such as unrealized gains or losses on available-for-sale securities or foreign currency translation adjustments) that are not included in the calculation of net income. Therefore, choice C is the correct answer.

Comprehensive Income Is ________