Which Statement Is Correct About the Statement of Comprehensive Income

question 26

Multiple Choice

Which statement is correct about the statement of comprehensive income?

• A)Entities using the nature format for expenses must provide additional disclosure.
• B)The single-step format provides more information than the multiple-step format.
• C)The multiple-step format must be used in financial reporting.
• D)Entities using the function format for expenses must provide additional disclosure.

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Definitions:

Abnormal Behavior

Actions or behaviors that deviate significantly from what is considered normal or typical.

Personal Distress

A negative emotional response individuals feel when witnessing others in distress, motivating them to alleviate both their own and others' suffering.

Function Normally

The ability of an organism, system, or mechanism to operate or perform within its expected parameters, without impairment or dysfunction.

DSM-IV-TR

The Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, Text Revision; a manual published by the American Psychiatric Association detailing criteria for diagnosing mental disorders.