Comprehensive income under IFRS
A) includes unrealized gains and losses included in net income in contrast to GAAP.
B) includes unrealized gains and losses included in net income similar to GAAP.
C) excludes unrealized gains and losses included in net income in contrast to GAAP.
D) excludes unrealized gains and losses included in net income similar to GAAP.

Question

Quizplus · Accepted Answer

Comprehensive income under IFRS includes unrealized gains and losses in a manner similar to GAAP, encompassing all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Comprehensive Income Under IFRS