Which term describes items of income and expense (including reclassification adjustments)that are not recognised in profit or loss as required or permitted by other Australian Accounting Standards?
A) Operating income
B) Other comprehensive income
C) Net income
D) Equity

Question

Quizplus · Accepted Answer

Other comprehensive income refers to items of income and expense, including reclassification adjustments, that are not recognized in profit or loss as required or permitted by other Australian Accounting Standards.

Which Term Describes Items of Income and Expense (Including Reclassification