Question

A statement of comprehensive income includes:

• Net income.

• Gains and losses on unsold equity securities.

• Gains and losses on stock dividends.

• None of these options is included.

Answer 1

Statement of comprehensive income is the part of financial statements which gives us the overview of the all the revenues, expenses, taxes paid, interests, penalities paid by the organization in the overall year of operations or respective period for which it is prepared.

The comprehensive income statement not only gives the overview of the above mentioned items but also used to calculate the net income and accumulated loss or gains form financial instruments.

so from the above mentioned question the statement of Comprehensive income includes the net income, gains and losses on unsold equity securities.