Which of the Following Describes How Comprehensive Income Should Be

question 62

Multiple Choice

Which of the following describes how comprehensive income should be reported?

• A) May be reported in a separate statement, in a combined statement of earnings and comprehensive income, or within a statement of shareholders' equity.
• B) Should not be reported in the financial statements but should only be disclosed in the footnotes.
• C) Must be reported in a separate statement, as part of a complete set of financial statements.
• D) May be reported in a combined statement of earnings and comprehensive income or disclosed within a statement of shareholders' equity; separate statements of comprehensive income are not permitted.

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