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    Intermediate Accounting Study Set 3
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    Exam 3: Statements of Income and Comprehensive Income
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    Other Comprehensive Income Includes Only Unrealized Gains and Losses
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Other Comprehensive Income Includes Only Unrealized Gains and Losses

Question 113

Question 113

True/False

Other comprehensive income includes only unrealized gains and losses. When a previously unrecognized gain or loss is recognized later, this gain or loss will always be included in the company's net income in the year recognized.

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