Which of the Following Items Is Included as Part of Comprehensive

question 132

Multiple Choice

Which of the following items is included as part of comprehensive income but is not included as part of net income?

• A)Gains and losses from sales of property,plant and equipment.
• B)Foreign currency translation gains and losses.
• C)Income taxes and payroll taxes.
• D)Gains and losses from discontinued operations.

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Definitions:

Services Surplus

Services Surplus describes a situation where the value of exported services of a country exceeds the value of its imported services, contributing positively to its trade balance.

Capital and Financial Account

Refers to parts of the balance of payments where capital transfers, investments, and financial derivatives are recorded.

Money Inflows

Financial resources entering a particular entity, such as a business or country, over a period of time.

Financial Account Balance

A component of a country's balance of payments that records transactions of foreign investment associated with that country.