Which of the following describes how comprehensive income should be reported?
A) Must be reported in a separate statement, as part of a complete set of financial statements.
B) Should not be reported in the financial statements but should only be disclosed in the footnotes.
C) May be reported in a separate statement, in a combined statement of earnings and comprehensive income, or within a statement of shareholders' equity.
D) May be reported in a combined statement of earnings and comprehensive income or disclosed within a statement of shareholders' equity; separate statements of comprehensive income are not permitted.

Question

Quizplus · Accepted Answer

The Answer of Which of the following describes how comprehensive income should be reported?
A) Must be reported in a separate statement, as part of a complete set of financial statements.
B) Should not be reported in the financial statements but should only be disclosed in the footnotes.
C) May be reported in a separate statement, in a combined statement of earnings and comprehensive income, or within a statement of shareholders' equity.
D) May be reported in a combined statement of earnings and comprehensive income or disclosed within a statement of shareholders' equity; separate statements of comprehensive income are not permitted.

Which of the Following Describes How Comprehensive Income Should Be