The Statement of Comprehensive Income Includes Items in Which Order

question 102

Multiple Choice

The Statement of Comprehensive Income includes items in which order?

• A)Net income,Other items of net income,Comprehensive income.
• B)Comprehensive income,Net income,Other items of Comprehensive income.
• C)Net income,Other Fair value items,Comprehensive income.
• D)Net income,Other comprehensive income items,Comprehensive income.

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Definitions:

Financial Statements

Official records that detail the financial activities and condition of a business, organization, or individual, typically including balance sheet, income statement, and statement of cash flows.

Retained Earnings

The portion of a company's profits kept in the business after dividends are paid to shareholders, used for reinvestment or to pay off debt.

Non-controlling Interest

An ownership interest in a corporation where the percentage of shares owned does not give the shareholder the control of the company.

Debit Entry

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.