Each of the following would be reported as items of other comprehensive income except:
A) foreign currency translation adjustments.
B) net unrealized holding gains on investments.
C) deferred gains from derivatives.
D) gains from the sale of equipment.

Question

Quizplus · Accepted Answer

Gains from the sale of equipment are not reported as items of other comprehensive income. They are reported as part of net income in the income statement. Other comprehensive income includes gains or losses that are not included in net income, such as foreign currency translation adjustments, net unrealized holding gains on investments, and deferred gains from derivatives.

Each of the Following Would Be Reported as Items of Other