Which Statement Is Correct Regarding Accumulated Other Comprehensive Income (AOCI)

question 113

Multiple Choice

Which statement is correct regarding accumulated other comprehensive income (AOCI) ?

• A)AOCI is reported on the income statement.
• B)AOCI is profit from regular operations before income tax.
• C)AOCI is reported on the statement of financial position only.
• D)AOCI is reported on the statement of financial position and the statement of changes in equity.

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Definitions:

Automatic Systems

Systems that operate independently of human intervention, often relying on pre-set rules or algorithms to function.

Stereotyping

Assigning a fixed, generalized idea or identity to individuals based on their membership in a particular group, often leading to prejudgment.

Duplex Mind

The concept that the human mind operates on two levels: automatic, intuitive processing, and deliberate, rational thought.

Automatic System

Part of the cognitive system that is fast, unconscious, and requires minimal effort, as opposed to the effortful, conscious processing system.