Comprehensive income is net income plus the periods change in accumulated other comprehensive income.

Name: Comprehensive income is net income plus the periods change in accumulated other comprehensive income.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

Comprehensive income includes not only net income but also other gains and losses that are not recognized in the income statement but are reflected in accumulated other comprehensive income (OCI). Therefore, adding the change in OCI to net income results in comprehensive income.

Comprehensive Income Is Net Income Plus the Periods Change in Accumulated