Which of the following are acceptable formats for reporting comprehensive income?
I. In one continuous financial statement
II. In a statement of changes in equity
III. In a separate statement of net income
IV. In two separate but consecutive financial statements

Question

24-01-2020
Business

contestada

Which of the following are acceptable formats for reporting comprehensive income?
I. In one continuous financial statement
II. In a statement of changes in equity
III. In a separate statement of net income
IV. In two separate but consecutive financial statements

Respuesta :

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Uzzaam369 Uzzaam369 · Answer 1 · 2020-01-26T13:16:19+01:00

Answer:

The acceptable format for reporting comprehensive income are 1. In one continuous financial statement and 4. In two separat but consecutive financial statements.

If a firm that presents a full set of financial statements has items of other comprehensive income it must present comprehensive income either (1) in a single continuous statement of comprehensive income or (2) in two separate but consecutive statements.

Which of the following are acceptable formats for reporting comprehensive income? I. In one continuous financial statement II. In a statement of changes in equity III. In a separate statement of net income IV. In two separate but consecutive financial statements

Respuesta :

Otras preguntas

Which of the following are acceptable formats for reporting comprehensive income?
I. In one continuous financial statement
II. In a statement of changes in equity
III. In a separate statement of net income
IV. In two separate but consecutive financial statements