Comprehensive income may be shown on:
A)the balance sheet as a contra-asset account and reports the changes in investments' fair value.
B)the income statement by adding or subtracting special items,such as changes in foreign currency exchange rates and certain investments.
C)IFRS financial statements only.
D)non-public companies' financial statements only.

Question

Quizplus · Accepted Answer

In some cases,you may see that companies include additional items on their income statements after the net income line.These items may be added to or subtracted from net income to arrive at the amount of comprehensive income,which equals net income plus other comprehensive income (OCI).OCI includes gains and losses arising from changes in the values of certain assets and liabilities.

Comprehensive Income May Be Shown On