Comprehensive income:
A) is the change in equity resulting from nonowner sources except net income.
B) is the changes in equity resulting from nonowner sources.
C) excludes gains and losses on marketable securities.
D) None of the above.

Question

Quizplus · Accepted Answer

Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. This encompasses not just net income, but also other comprehensive income items such as unrealized gains and losses on available-for-sale securities, foreign currency translation adjustments, and pension plan gains and losses, among others.

Comprehensive Income