Accumulated comprehensive income is included as part of
A) retained earnings.
B) net income.
C) shareholders' equity.
D) unearned revenue.

Question

Quizplus · Accepted Answer

Accumulated comprehensive income is a component of shareholders' equity on the balance sheet, including gains and losses that are not recognized in the income statement. It is different from retained earnings, which represent the accumulated profits of a company. It is also different from net income, which is the result of subtracting all expenses from the total revenue earned in a period. It is not related to unearned revenue, which is a liability resulting from receiving advanced payments for goods or services that are not yet provided.

Accumulated Comprehensive Income Is Included as Part of