A firm's comprehensive income is always:
A)The same as its net income.
B)Greater than its net income.
C)Less than its net income.
D)Could be greater than or less than net income.

Question

Quizplus · Accepted Answer

Comprehensive income is the sum of net income and other comprehensive income, which includes gains or losses that are not reflected in the net income for the period (such as unrealized gains or losses from investments in available-for-sale securities). Therefore, comprehensive income could be greater than or less than net income, depending on the amount of other comprehensive income for the period.

A Firm's Comprehensive Income Is Always