The elements of comprehensive income would include all of the following items except
A) Net earnings, as reported on the income statement.
B) Unrealized gains or losses on financial assets that are classified as available for sale.
C) Unearned revenue
D) Unrealized gains or losses on translating the financial statements of companies that have operations in other countries, but are controlled by the Canadian reporting entity.

Question

Quizplus · Accepted Answer

Unearned revenue is not part of comprehensive income. Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. It includes items such as unrealized gains or losses on available for sale financial assets, unrealized gains or losses on translating the financial statements of foreign subsidiaries, and gains or losses from pension adjustments.

The Elements of Comprehensive Income Would Include All of the Following