Using the concept of comprehensive income,which of the following items is included as part of comprehensive income but not as part of net income?
A)Unrealized holding gains or losses
B)Accounting changes
C)Extraordinary items
D)Loss on sale of investments

Question

Quizplus · Accepted Answer

Unrealized holding gains or losses are recognized in comprehensive income but not in net income. Net income includes only realized gains or losses, while comprehensive income includes both realized and unrealized gains or losses. Accounting changes and extraordinary items may also be included in comprehensive income, but the loss on sale of investments would be recognized in net income.

Using the Concept of Comprehensive Income,which of the Following Items