Comprehensive income is:
A) used to determine earnings per share.
B) used to determine net income.
C) not used to determine net income or earnings per share.
D) used to determine net income or earnings per share.

Question

Quizplus · Accepted Answer

Comprehensive income is a broader concept than net income and includes all changes in equity during a period from transactions and other events from non-owner sources. It includes items such as unrealized gains or losses on available-for-sale securities, foreign currency translation adjustments, and pension plan adjustments. Comprehensive income is reported in the statement of comprehensive income, but it is not used to determine net income or earnings per share.

Comprehensive Income Is