Under IFRS, the Components of Other Comprehensive Income Can Be

question 255

Multiple Choice

Under IFRS, the components of other comprehensive income can be reported in each of the following ways except

• A) the one-statement approach.
• B) the two-statement approach.
• C) the statement of stockholders' equity approach.
• D) All of the above are acceptable.

---

Definitions:

Competitive Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, in a perfectly competitive market.

Utility Function

A utility function is an economic model representing satisfaction or preference a consumer derives from consuming goods and services.

Initial Endowment

The original allocation of resources, such as wealth or goods, that an individual or entity starts with.

Numeraire

A standard unit of measurement in economics used to express prices or monetary values, making it easier to compare different goods or services.