Accumulated other comprehensive income is reported:
A) In the balance sheet as an asset.
B) In the balance sheet as a liability.
C) In the balance sheet as a component of shareholders' equity.
D) In the statement of comprehensive income.

Question

Quizplus · Accepted Answer

Accumulated other comprehensive income is a component of shareholders' equity and is reported in the balance sheet as such. It represents gains and losses that are not included in the calculation of net income, such as unrealized gains and losses on investments or foreign currency translation adjustments.

Accumulated Other Comprehensive Income Is Reported