Net Income and Other Comprehensive Income Can Be Reported in a Single

question 128

Multiple Choice

Net income and other comprehensive income can be reported in a single statement of comprehensive income using:

• A) IFRS.
• B) U.S. GAAP.
• C) Neither U.S. GAAP nor IFRS.
• D) Both U.S. GAAP and IFRS.

---

Definitions:

Unethical Practices

Actions or behaviors that are considered wrong, immoral, or against professional standards of conduct.

External Proposal

A proposition or plan submitted by an outside party to an organization or individual for consideration or action.

Persuasive Language

Language used to convince or influence someone to believe or do something.

Initialisms

Abbreviations consisting of initial letters pronounced separately, such as "FBI" for Federal Bureau of Investigation.