Asked by NDIVHUWO SANDRA on Jul 04, 2024
Verified
Accumulated other comprehensive income is reported in the shareholders' equity section of the statement of financial position for a publicly-traded company.
Accumulated Other Comprehensive Income
A component of shareholders' equity that includes income not recognized in the profit and loss account, such as unrealized gains on securities and foreign exchange differences.
Shareholders' Equity
The residual interest in the assets of an enterprise after deducting liabilities, representing the ownership interest of shareholders.
- Understand the implications of share capital and retained earnings transactions on a company's financial status.
Verified Answer
LG
Lindsay GilbertJul 11, 2024
Final Answer :
True
Explanation :
Accumulated other comprehensive income is a component of shareholders' equity in the consolidated statement of financial position, capturing items of income and expense that are not recognized in profit or loss.
Learning Objectives
- Understand the implications of share capital and retained earnings transactions on a company's financial status.