3489006
Descripción
Test por chriskilleen, actualizado hace más de 1 año
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Creado por chriskilleen
hace más de 8 años
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Pregunta 1
Pregunta
What is comprehensive income?
Respuesta
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Unrealized gains and losses on securities available for sale, unrecognized pension gains and losses, foreign currency translation adjustments, certain derivative gains and losses.
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Net income plus or minus unrealized gains and losses on securities available for sale, unrealized pension cost, certain unrealized gains and losses on derivatives, and foreign currency translation adjustments.
Pregunta 2
Pregunta
What are the three ways of reporting comprehensive income?
Respuesta
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Separate income statement, as part of the income statement, or in the statement of shareholders' equity.
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1) Single statement of net income and comprehensive income or 2) two separate statements: a statement of net income and a statement of comprehensives income.
Pregunta 3
Pregunta
What is the main purpose of disclosing comprehensive income?
Respuesta
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To report the net change in equity in a single amount.
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Owner's equity.
Pregunta 4
Pregunta
Does IFRS (International Financial Reporting Standards) allow revaluation of plant assets and intangibles to fair value as a other comprehensive income item?
Respuesta
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Yes, it is allowed.
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When OCI item from previous year is removed from AOCI.
Pregunta 5
Pregunta
What is net income plus or minus other components of comprehensive income?
Respuesta
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Comprehensive income.
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Owner's equity.
Pregunta 6
Pregunta
What is an OCI reclassification adjustment?
Respuesta
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When OCI item from previous year is removed from AOCI.
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Owner's equity.
Pregunta 7
Pregunta
What type of account is AOCI?
Respuesta
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Owner's equity.
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Comprehensive income.
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