Using the concept of comprehensive income, which of the following items is included as part of comprehensive income but not as part of net income?

Question

Quizplus · Accepted Answer

Unrealized holding gains or losses are included in comprehensive income but not in net income. This is because unrealized gains or losses refer to changes in the value of investments that have not yet been sold, therefore they do not impact net income which only includes realized gains or losses. Extraordinary items, accounting changes, and loss on sale of investments are all included in net income.

Using the Concept of Comprehensive Income, Which of the Following