Other Comprehensive Income Includes Only Unrealized Gains and Losses

question 113

True/False

Other comprehensive income includes only unrealized gains and losses. When a previously unrecognized gain or loss is recognized later, this gain or loss will always be included in the company's net income in the year recognized.

---

Definitions:

New

Not existing before; made, introduced, or discovered recently or now for the first time.

Unique

Being the only one of its kind; unlike anything else, often used to describe distinctive features or qualities.

Premium Approach

A strategy in marketing or sales where products or services are presented as high-quality or luxury options, often at a higher price point.

Introductory Approach

The initial method or strategy used to engage a potential client or customer, introducing the offerings of a business.