Comprehensive Income

question 72

Multiple Choice

Comprehensive income

• A) may be reported on a separate statement or on the face of the income statement.
• B) can be used as an alternative format of the traditional income statement.
• C) includes some revenue and expense items that are part of continuing operations.
• D) can be prepared instead of the shareholders' equity section of the balance sheet.

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Definitions:

Takings Clause

The Fifth Amendment states that “private property [shall not] be taken for public use, without just compensation.” This clause has been incorporated within the Fourteenth Amendment due process, so it also applies to the states.

Fifth Amendment

is an amendment to the U.S. Constitution that provides several protections for people accused of crimes, including protection against self-incrimination and double jeopardy, and ensures due process.

Article V

Depending on context, this could refer to various legal or constitutional provisions, but generally involves rules for amendment or alteration of a document or organization's governing principles.

Constitution Laws

Body of law which defines the relationship of different entities within a state, namely, the executive, the legislature, and the judiciary.