Homework Help is Here – Start Your Trial Now!
Business
Accounting
Problem 9-15 Multiple choice (IFRS) 1. Comprehensive income includes all of the following except a. Dividend revenue b. Loss on disposal of asset c. Investment by owners d. Unrealized gain on trading investment 2. It comprises items of income and expense, including reclassification adjustments, that are not recognized in profit or loss as required or permitted by IFRS. a. Comprehensive income b. Other comprehensive income c. Profit or loss d. Retained income 3. Comprehensive income always a. Is the same as net income. b. Is greater than net income c. Is less than net income. d. Could be greater than or less than net income. 4. Earnings a. Include certain gains excluded from comprehensive income b. Are the same as comprehensive income c. Exclude certain gains included in comprehensive income d. Include certain losses excluded from comprehensive income 5. Other comprehensive income includes all, except a. Gain and loss arising from translating the financial statements of a foreign operation. b. Gain and loss from debt investment measured at f fair value through OCI. c. Gain and loss on hedging instrument in a cash flow hedge d. Dividend paid to shareholders.

Problem 9-15 Multiple choice (IFRS) 1. Comprehensive income includes all of the following except a. Dividend revenue b. Loss on disposal of asset c. Investment by owners d. Unrealized gain on trading investment 2. It comprises items of income and expense, including reclassification adjustments, that are not recognized in profit or loss as required or permitted by IFRS. a. Comprehensive income b. Other comprehensive income c. Profit or loss d. Retained income 3. Comprehensive income always a. Is the same as net income. b. Is greater than net income c. Is less than net income. d. Could be greater than or less than net income. 4. Earnings a. Include certain gains excluded from comprehensive income b. Are the same as comprehensive income c. Exclude certain gains included in comprehensive income d. Include certain losses excluded from comprehensive income 5. Other comprehensive income includes all, except a. Gain and loss arising from translating the financial statements of a foreign operation. b. Gain and loss from debt investment measured at f fair value through OCI. c. Gain and loss on hedging instrument in a cash flow hedge d. Dividend paid to shareholders.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Topic Video
Question
Kindly answer the following questions.
Problem 9-15 Multiple choice (IFRS) 1. Comprehensive income includes all of the following except a. Dividend revenue b. Loss on disposal of asset c. Investment by owners d. Unrealized gain on trading investment 2. It comprises items of income and expense, including reclassification adjustments, that are not recognized in profit or loss as required or permitted by IFRS. a. Comprehensive income b. Other comprehensive income c. Profit or loss d. Retained income 3. Comprehensive income always a. Is the same as net income. b. Is greater than net income c. Is less than net income. d. Could be greater than or less than net income. 4. Earnings a. Include certain gains excluded from comprehensive income b. Are the same as comprehensive income c. Exclude certain gains included in comprehensive income d. Include certain losses excluded from comprehensive income 5. Other comprehensive income includes all, except a. Gain and loss arising from translating the financial statements of a foreign operation. b. Gain and loss from debt investment measured at fair value through OCI. c. Gain and loss on hedging instrument in a cash flow hedge d. Dividend paid to shareholders. 186 S PA T T T T
Transcribed Image Text:Problem 9-15 Multiple choice (IFRS) 1. Comprehensive income includes all of the following except a. Dividend revenue b. Loss on disposal of asset c. Investment by owners d. Unrealized gain on trading investment 2. It comprises items of income and expense, including reclassification adjustments, that are not recognized in profit or loss as required or permitted by IFRS. a. Comprehensive income b. Other comprehensive income c. Profit or loss d. Retained income 3. Comprehensive income always a. Is the same as net income. b. Is greater than net income c. Is less than net income. d. Could be greater than or less than net income. 4. Earnings a. Include certain gains excluded from comprehensive income b. Are the same as comprehensive income c. Exclude certain gains included in comprehensive income d. Include certain losses excluded from comprehensive income 5. Other comprehensive income includes all, except a. Gain and loss arising from translating the financial statements of a foreign operation. b. Gain and loss from debt investment measured at fair value through OCI. c. Gain and loss on hedging instrument in a cash flow hedge d. Dividend paid to shareholders. 186 S PA T T T T
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS