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Comprehensive Income. a. Define comprehensive income. b. Explain why comprehensive income is important....

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Question

Accounting

Comprehensive Income.

a. Define comprehensive income.

b. Explain why comprehensive income is important.

c. List and describe the 4 components of other comprehensive income under US GAAP.

d. What are the components of other comprehensive income under IFRS?

e. What are the two choices for financial statement presentation of comprehensive income under US GAAP?

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