3 years ago

Do entities report revenues, expenses, gains, and losses in net income or other comprehensive income? Explain.

Business

1 answer:

I am Lyosha [343]3 years ago

3 0

Answer:

Revenue Expenses in net income

Gain / losses in Other comprehensive income

Explanation:

Revenue and Expenses of an entity is reported in the net income section of income statement. the second section of income statement deals with unrealized gains / losses and any gain or losses from discontinuing operations as well. Net income also added to the other comprehensive income to calculate total net income or total comprehensive income.

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3 years ago

Do entities report​ revenues, expenses,​ gains, and losses in net income or other comprehensive​ income? Explain.

Do entities report revenues, expenses, gains, and losses in net income or other comprehensive income? Explain.