Where on the Statement of Financial Position Would a Company's

question 137

Multiple Choice

Where on the statement of financial position would a company's total comprehensive income for the year be included under IFRS?

• A) The entire amount will be included in Retained Earnings.
• B) The entire amount will be included in Accumulated Comprehensive Income.
• C) The amount will be split; Net income will be included in Retained Earnings and Other Comprehensive Income will be included in Accumulated Other Comprehensive Income.
• D) The entire amount will be included in Contributed Capital.

---

Definitions:

Negative Effects

Unfavorable or harmful outcomes resulting from an event, action, or condition, impacting individuals or wider communities.

Social Psychological

Pertaining to how individual thoughts, feelings, and behaviors are influenced by the social environment and presence of others.

Cognitive Association

The mental linking or relating of ideas, concepts, or stimuli, which plays a role in how thoughts and memories are organized.

Economic Deprivation

A state of lacking economic resources and essentials, leading to poor living conditions and limited access to goods and services.