Other Comprehensive Income Includes Which of the Following

question 44

Multiple Choice

Other comprehensive income includes which of the following?

• A)Unrealized holding losses on at fair value through OCI investments.
• B)Unrealized holding losses on at amortized cost investments.
• C)Unrealized holding gains on at fair value through profit or loss investments.
• D)Only realized gains and losses on investments.

Comprehend the principles surrounding the termination of agency relationships.

Understand the role of express, implied, and apparent authority in agency relationships.

Learn about special rules related to electronic agents and their actions.

Acknowledge the importance of notification in changing or ending an agent’s authority.

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to update accounts for accuracies in preparation for financial reporting.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent ones.

End-Of-Period Spreadsheet

A document used in accounting to compile all balance sheet and income statement accounts at the end of a reporting period.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.