Reporting comprehensive income according to International Accounting Standards can be accomplished by each of the following methods except:
A)In the statement of shareholders' equity.
B)A combined statement of income and comprehensive income.
C)A separate statement of comprehensive income.
D)All of these are acceptable methods.

Question

Quizplus · Accepted Answer

Comprehensive income cannot be reported in the statement of shareholders' equity according to International Accounting Standards. It must be reported either in a combined statement of income and comprehensive income or in a separate statement of comprehensive income.

Reporting Comprehensive Income According to International Accounting Standards Can Be