Under U.S. GAAP or IFRS, a company can either report its comprehensive income or loss under present net income and comprehensive income in a single continuous performance statement or report it in a separate but consecutive financial statement.

Question

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Both U.S. GAAP and IFRS allow a company to present comprehensive income in a single continuous statement of comprehensive income or in two separate but consecutive statements, where the first statement presents components of net income and the second presents components of other comprehensive income.

Under US GAAP or IFRS, a Company Can Either Report Its