According to the FASB's Conceptual Framework, Earnings

question 30

Multiple Choice

According to the FASB's conceptual framework, earnings

• A) is the same as comprehensive income.
• B) excludes certain gains and losses that are included in comprehensive income.
• C) includes certain gains and losses that are excluded from comprehensive income.
• D) includes certain losses that are excluded from comprehensive income.

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Definitions:

Machiavellianism

A personality trait characterized by a manipulative, deceitful, and exploitative approach to interpersonal relationships and strategies.

Behaviors

The actions or reactions of an individual or group in response to external or internal stimuli.

Culturally Aware

Having an understanding of and sensitivity to the values, practices, and customs of different cultures.

Multicultural Teams

Work groups composed of members with diverse cultural, racial, and ethnic backgrounds.