Question

When a full set of general purpose financial statements is presented, comprehensive income and its components A. Appear as part of discounted operations B. Must be reported net of related income tax effects in total and individually C. Appear only in a supplemental schedule in the notes to the financial statements D. Must be reported in a presentation that includes the components of other comprehensive income and their total.

Answer 1

Answer:

D) Must be reported in a presentation that includes the components of other comprehensive income and their total.

Explanation:

Comprehensive income (net income plus other comprehensive income) must be reported in a presentation that includes the components of other comprehensive income and their total.