Comprehensive income does not affect net income or retained earnings.

Name: Comprehensive income does not affect net income or retained earnings.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which means it does not directly affect net income or retained earnings, as these are components of the equity affected by other factors.

Comprehensive Income Does Not Affect Net Income or Retained Earnings