Multiple Choice
Which of the following is false with regard to the element "comprehensive income"?
A) It is more inclusive than the traditional notion of net income.
B) It includes net income and all other changes in equity exclusive of owners' invest-ments and distributions to owners.
C) This concept is not yet being applied in practice.
D) It excludes prior period adjustments (transactions that relate to previous periods, such as corrections of errors) .
Correct Answer:
Verified
Correct Answer:
Verified
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