Question

Comprehensive income is defined as: Net income plus other comprehensive income. Changes in equity for a period resulting from all sources. Changes in equity for a period from all sources except those by nonowner sources. Changes in retained earnings for a period resulting from owner sources.

Answer 1

Answer: Changes in equity for a period from all sources except those by non-owner sources.                            

Explanation: In simple words, comprehensive income refers to those transactions that were not realized before so they later get recorded in the income statement.

These transactions usually results in increase in shareholders equity. Usually such transactions involve unrealized gain or loss from available for sale securities or foreign currency transactions.