Comprehensive income is the total change in equity that results from all sources other than distributions to owners and investments by owners. It is a little closer to being an economic measure of income than net income is. Question 3: The financial statement that provides a summary of the firm’s operations for a period of time is the a) income statement. b) statement of financial position. c) statement of shareholders’ equity. d) statement of retained earnings.
Posted on: Fri, 09 Jan 2015 05:44:56 +0000
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