Asked by Chantal Taylor on Jul 21, 2024
Verified
Which of the following is not included in comprehensive income?
A) net income
B) unrealized gains in the fair market value of equipment
C) foreign currency translation adjustments
D) certain pension plan gains (losses) and prior service cost adjustments
Comprehensive Income
A measure of all changes in equity of a company that result from recognized transactions and other economic events of the period other than those resulting from investments by and distributions to owners.
Unrealized Gains
Profits from investments that have increased in value but have not yet been sold for cash.
Net Income
The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.
- Comprehend the disclosure standards set by GAAP and the SEC for financial statements.
Verified Answer
Learning Objectives
- Comprehend the disclosure standards set by GAAP and the SEC for financial statements.
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