Net income and other comprehensive income can be reported in a single statement of comprehensive income using:
A) IFRS.
B) U.S. GAAP.
C) Neither U.S. GAAP nor IFRS.
D) Both U.S. GAAP and IFRS.

Question

Quizplus · Accepted Answer

Both U.S. GAAP and IFRS require that companies report a statement of comprehensive income either as a separate statement immediately following the income statement or as a continuation of the income statement.

Net Income and Other Comprehensive Income Can Be Reported in a Single