Multiple Choice
Based on GAAP, which of the following is true of comprehensive income?
A) It should be reported as part of sales in the income statement.
B) It can be reported as part of statement of shareholders' equity.
C) It should be reported as a line item before earnings after tax in the balance sheet.
D) It should be reported as part of operating activities in the statement of cash flows.
Correct Answer:
Verified
Correct Answer:
Verified
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