Which of the Following Items Is Not Included in the Calculation

question 69

Multiple Choice

Which of the following items is not included in the calculation of net income but is included in the calculation of comprehensive income?

• A)Unrealized holding gain on available-for-sale marketable securities
• B)Unrealized holding gain on trading marketable securities
• C)Gain from early extinguishments of bonds
• D)Gain arising from sale of available-for-sale marketable securities

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Definitions:

Built-In Stabilizers

Automatic fiscal mechanisms, such as progressive taxation and welfare payments, that help to moderate the fluctuations of an economy's output without additional legislative action.

Income Tax Collections

The process of collecting taxes imposed on individuals or entities based on their income or profits by the government.

National Income

A measure of the total value of all goods and services produced by a country over a specific time period, often adjusted for inflation and excluding net income from abroad.

Budget Deficit

A situation where a government's expenditures exceed its revenues, resulting in the need to borrow money to cover the shortfall.