Under IFRS, Which of the Following Describes How Other Comprehensive

question 58

Multiple Choice

Under IFRS, which of the following describes how other comprehensive income should be reported?

• A)Must be reported in a statement of comprehensive income
• B)Should not be reported in the financial statements, but should only be disclosed in the footnotes
• C)Must be reported in the statement of income
• D)Must be reported in the shareholders' equity section of the statement of financial position

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Definitions:

Deinstitutionalization

Process of closing large asylums and integrating people back into the community where they can be treated locally.

Electroshock

Also known as electroconvulsive therapy (ECT), it is a psychiatric treatment in which seizures are electrically induced in patients to provide relief from mental disorders.

Electroconvulsive Therapy

A psychiatric treatment involving electrically induced seizures to provide relief from severe mental disorders, notably major depression.

Transference

The projection of one's feelings, desires, and expectations from one person to another, often experienced in therapeutic contexts.