Which of the Following Would Be Regarded as 'Other Comprehensive

question 12

Multiple Choice

Which of the following would be regarded as 'other comprehensive income'?

• A)Foreign exchange gains.
• B)Cash flow hedges.
• C)Revaluation of property.
• D)All of the above.

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Definitions:

Financial Statements

Consolidated records of the financial activities of a business, entity, or individual, including the balance sheet, income statement, and cash flow statement.

Temporary Accounts

Income statement (and sometimes Dividends Declared) accounts that are closed to Retained Earnings at the end of the accounting period.

Balance Sheet

A summary report of a company's financial position, including assets, liabilities, and the equity of its shareholders, at a distinct time.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profit or loss.