Comprehensive Income Consists of

question 37

Multiple Choice

Comprehensive income consists of

• A)operating income + other income and losses
• B)net income + other adjustments to retained earnings
• C)net income + other comprehensive income
• D)other comprehensive income + unrealized changes in the value of available for sale securities

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Definitions:

Authorized Shares

The legally allowed maximum issuance of shares by a corporation, as stated in its charter.

Articles of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.

Limited Liability

A legal structure where a company's shareholders' financial responsibility is limited to the value of their shares in the event of liquidation.

Share Transferability

The ability to transfer ownership of a company's shares from one party to another.