Comprehensive Income Flashcards
1
Q
Comprehensive Income definition
A
change in equity of business enterprise during a period from transactions and other events and circumstances from non-owner sources. (ie: not from investments by owners and distributions to owners)
2
Q
comprehensive income formula
A
net income
+other comprehensive income
= comprehensive income
3
Q
net income includes
A
- income from operations
- discontinued operations
- extraordinary items
