Question

Which of the following items would not be part of Xanadu Corporation's comprehensive income?

a. loss incurred from a sale of Bantner company stock which Xanadu held as long as a long term investment b. dividend revenue Xanadu received from a stock investment Xanadu owns in the Adver corporation c. losses on disposal/sale of property, plant and equipment d. unrealized holding gains from revaluing marketable securities to market value e. None of the above. All of these are part of comprehensive income

Answer 1

Answer is

e. None of the above.

All of the below items are shown in profit and loss account and not in comprehensive income statement. Hence answer is none of the above. Statement of comprehensive income includes items which is not shown on Income statement such as unrealised gain or loss on financial instrument or derivatives, etc

items shown in profit and loss account

a. loss incurred from a sale of Bantner company stock which Xanadu held as long as a long term investment

b. dividend revenue Xanadu received from a stock investment Xanadu owns in the Adver Corporation

c. losses on disposal/sale of property, plant and equipment

d. unrealized holding gains from revaluing marketable securities to market value