The statement of comprehensive income shows financial information:
A) at a point in time.
B) over a period of time.
C) at the time of the originating transaction.
D) at the time of sale of an item.

Question

Quizplus · Accepted Answer

The statement of comprehensive income shows financial information over a period of time, typically a year. This includes revenues and expenses incurred during that time, resulting in net income or loss. It provides a comprehensive view of a company's financial performance over the given period.

The Statement of Comprehensive Income Shows Financial Information