All of the Following Statements Regarding Other Comprehensive Income Are

question 85

Multiple Choice

All of the following statements regarding other comprehensive income are True except:

• A) Other comprehensive income includes unrealized gains and losses on available-for-sale securities.
• B) Other comprehensive income is not considered when calculating comprehensive income.
• C) Other comprehensive income includes foreign currency adjustments.
• D) Other comprehensive income includes pension adjustments.
• E) Accumulated other comprehensive income is defined as the cumulative impact of other comprehensive income.

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Definitions:

Bound in Contract

A legal state or condition wherein parties are legally obligated to fulfill the terms and conditions stipulated in a contract.

Non Est Factum

A legal defense in contract law where a person claims that a signature on a contract was signed by mistake, without understanding its nature.

Functionally Illiterate

Describes an individual whose reading and writing skills are inadequate to manage daily living and employment tasks that require literacy.

Duress

The threat of injury or imprisonment for the purpose of requiring another to enter into a contract or carry out some act.