One of the Elements of Financial Statements Is Comprehensive Income

question 50

Multiple Choice

One of the elements of financial statements is comprehensive income.As described in Statement of Financial Accounting Concepts No.6, "Elements of Financial Statements," comprehensive income is equal to

• A)revenues minus expenses plus gains minus losses.
• B)revenues minus expenses plus gains minus losses plus investments by owners minus distributions to owners.
• C)revenues minus expenses plus gains minus losses plus investments by owners minus distributions to owners plus assets minus liabilities.
• D)none of these.