All of the Following Statements Regarding Comprehensive Income Are True

question 66

Multiple Choice

All of the following statements regarding comprehensive income are true, except:

• A)comprehensive income was created to be an all-inclusive measure of performance.
• B)comprehensive income is not a requirement for public companies under IFRS.
• C)comprehensive income captures all transactions and events, even those excluded from net income.
• D)comprehensive income equals the sum of net income and other comprehensive income.

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Definitions:

Triple Bottom Line

An accounting framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions.

Global Reporting Initiative

An international independent organization that helps businesses and governments worldwide understand and communicate their impact on issues such as climate change, human rights, and corruption.

Economic Indicators

Statistics and data points used to gauge the overall health of the economy, including measures like GDP, unemployment rates, and inflation.

Environmental Indicators

Metrics used to assess the state of the environment, including measures of air quality, water quality, biodiversity, and climate change impacts.