The Term "Comprehensive Income" as Defined by the FASB

question 24

Multiple Choice

The term "comprehensive income" as defined by the FASB

• A) must be reported on the face of the income statement.
• B) includes all changes in equity during a period except those resulting from investments by and distributions to owners.
• C) is the net change in owners' equity for the period.
• D) is synonymous with the term "net income."

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