Asked by Nitika Upadhyaya on Jun 03, 2024
Verified
Comprehensive income would include which of the following? Net Income Distributions to Owners I. No No II. No Yes III. Yes No IV. Yes Yee \begin{array}{ll}&\text { Net Income }&\text { Distributions to Owners }\\I.&\text { No } & \text { No } \\II.&\text { No } & \text { Yes } \\III.&\text { Yes } & \text { No } \\IV.&\text { Yes } & \text { Yee }\end{array}I.II.III.IV. Net Income No No Yes Yes Distributions to Owners No Yes No Yee
A) I
B) II
C) III
D) IV
Comprehensive Income
The total change in equity for a reporting period, excluding any transactions from owners (such as dividends).
Net Income
The total profit of a company after all expenses, including taxes and interest, have been deducted from total revenue.
Distributions
Payments made from a company or a fund to its shareholders, often from profits or reserves.
- Comprehending the components of comprehensive income and identifying the elements exclusive to it.
Verified Answer
AA
Ayomide AkinfolarinJun 05, 2024
Final Answer :
C
Explanation :
Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. Therefore, it includes net income but not distributions to owners.
Learning Objectives
- Comprehending the components of comprehensive income and identifying the elements exclusive to it.