Other comprehensive income items may be reported at their: $\begin{array}{lll}& \text { Gross Amounts}& \text { Net of Tax Amounts}\\\text { I. } & \text { Yes } & \text { Yes } \\\text { II. } & \text { No } & \text { No } \\\text { III. } & \text { Yes } & \text { No } \\\text { IV } & \text { No } & \text { Yes }\end{array}$

A) I
B) II
C) III
D) IV

Question

Other comprehensive income items may be reported at their:

\begin{array}{lll}& \text { Gross Amounts}& \text { Net of Tax Amounts}\\\text { I. } & \text { Yes } & \text { Yes } \\\text { II. } & \text { No } & \text { No } \\\text { III. } & \text { Yes } & \text { No } \\\text { IV } & \text { No } & \text { Yes }\end{array}

A) I
B) II
C) III
D) IV

Amrit Guron · Accepted Answer

Final Answer : A, Explanation :  Items of other comprehensive income can be reported either at their gross amounts or net of tax amounts, allowing for flexibility in financial reporting.

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