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Basic Question 1 of 4
True or False? Comprehensive income includes all revenues, expenses, gains, losses, and prior period adjustments.
User Contributed Comments 4
| User | Comment |
|---|---|
| blcross | Since comprehensive income includes net income, and net income includes all revenues etc, shouldn't this statement be true? |
| tractor | No. except for prior period adjustments. |
| Htoon | If we add prior perior adjustments, it will happen we add the same amount two times. |
| choas69 | CI = OCI + NI |
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Learning Outcome Statements
describe, calculate, and interpret comprehensive income;
describe other comprehensive income and identify major types of items included in it.
CFA® 2024 Level I Curriculum, Volume 3, Module 18.