Comprehensive income is equal to the net income of a company, excluding the effects of discontinued operations and extraordinary items.

Question

Quizplus · Accepted Answer

Comprehensive income includes all changes in equity during a period from non-owner sources, including unrealized gains and losses on certain investments and foreign currency translation adjustments. Therefore, it is not equal to net income, which only reflects the company's profit or loss from its operations.

Comprehensive Income Is Equal to the Net Income of a Company