Other comprehensive income does NOT include
A) comprehensive income.
B) net income.
C) unrealized gains resulting from the application of the fair value through other comprehensive income model.
D) unrealized losses resulting from the application of the fair value through other comprehensive income model.

Question

Quizplus · Accepted Answer

Other comprehensive income includes unrealized gains and losses resulting from the fair value through other comprehensive income model, as well as certain other items such as foreign currency translation adjustments and pension adjustments. It does not include net income, which is reported separately on the income statement.

Other Comprehensive Income Does NOT Include