Accumulated Other Comprehensive Income

question 133

Multiple Choice

Accumulated Other Comprehensive Income

• A)is a shareholders' equity account that acts for other comprehensive income the way retained earnings acts for net income.
• B)equals net income plus other comprehensive income.
• C)includes gains and losses from sales or exchanges of assets or settlements of liabilities related incidentally or peripherally to the firm's core business.
• D)Firms close amounts in net income for a period to Accumulated Other Comprehensive Income at the end of the period.
• E)all of the above

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Definitions:

Instructions

Directions or orders given by one party to another, especially in the context of a legal, business, or contractual relationship.

Revocation

The official cancellation or withdrawal of an offer, right, or privilege, often requiring a formal declaration.

Renunciation

The formal or explicit declaration that one refuses to carry out, or is withdrawing from, an agreement or obligation.

Termination

The act of ending something, such as a contract, employment, or agreement, either by mutual consent or unilaterally by one party.