Comprehensive income reports an expanded version of income to include four types of gains and losses not included in traditional income statements.

Question

Quizplus · Accepted Answer

Comprehensive income reports not only traditional income but also other types of gains and losses such as unrealized gains/losses from available-for-sale securities, foreign currency translation gains/losses, changes in pension or other post-employment benefit plans, and gains/losses from cash flow hedges.

Comprehensive Income Reports an Expanded Version of Income to Include