Can the terms net income and comprehensive income be used interchangeably? Explain.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 41% (12 reviews)
No net income is a component of comprehensive income Com...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Question Posted:
Students also viewed these Accounting questions
-
Use the following information to compute net income and comprehensive income. For simplicity, ignore income taxes. Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . ....
-
Use the following information to compute net income and comprehensive income. For simplicity, ignore income taxes. Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . ....
-
The following data represent total assets, book value, and market value of common shareholders equity (dollar amounts in millions) for Abbott Labs, IBM, and Target Stores. Abbott Labs manufactures...
-
Let n=102 +r, where , re N, 0r9. A number a is chosen at random from the set {1, 2, 3, ..., n} and let pn denote the probability that (a 1) is divisible by 10. 70. If r = 0, then npn equals (a) 22...
-
Refer to Fig. 7.6 on page 295. a. Why are the four graphs in Fig. 7.6(a) all centered at the same place? b. Why does the spread of the graphs diminish with increasing sample size? How does this...
-
Niles and Marsha adopted an infant boy ( a U . S . citizen ) . They paid $ 1 5 , 5 0 0 in 2 0 2 0 for adoption - related expenses. The adoption was finalized in early 2 0 2 1 . Marsha received $ 4 ,...
-
Over time the proportion of employers who offer these benefits is increasing. Why do you think this is? L01
-
OConnor Companys income statement information for 2016 and 2017 (a sole proprietorship) is as follows: Required: Provide the missing amounts for the blanks labeled (a) through (g). All the necessary...
-
Which of the following is used to determine a company's need for short-term credit or the availability of funds for short-term investing? Capital budgeting Short-term forecasting Medium-term...
-
There is a lottery with n coupons and n people take part in it. Each person picks exactly one coupon. Coupons are numbered consecutively from 1 to n, n being the maximum ticket number. The winner of...
-
How is a companys profit margin calculated?
-
What is the difference between permanent and transitory earnings?
-
Consider the function y = f (x) defined for 2 Ã 1 matrices x by y = Ax, where Plot f (x) together with x in each case below. How would you describe the action of f? (a) (b) (c) (d) 1 0 1 (4 2
-
Companies that invest heavily in eco-friendly initiatives, such as transitioning to renewable energy sources or implementing carbon offset programs, may initially face increased operational costs....
-
Answer each question individually please. 14-13 What are the advantages and drawbacks of universities using social media to communicate with various stakeholdersstudents, potential students, alumni,...
-
act as a consultant hired by the operations director of the Barry Computer Company provide a financial analysis and comparison to the industry. You will conduct a financial ratio analysis to gain a...
-
Building a sense of community is not just a moral thing to do, but also a pragmatic one. In today's competitive and ever-evolving business environment, the organizations that can attract the most...
-
Watch https://youtu.be/U3MtvvNjUR4 What do you think of Dr. Saint's ideas about barriers to change? What do you think about social learning? Could this tool be used to make real change? How can the...
-
Assume that the water utility, an enterprise fund, was billed $25,000 for data processing work during the year ended June 30, 20X7. What account in the enterprise fund should be debited to record...
-
In Problem use absolute value on a graphing calculator to find the area between the curve and the x axis over the given interval. Find answers to two decimal places. y = x 3 ln x; 0.1 x 3.1
-
400 Convert the Hindu-Arabic number into a Mayan number.
-
Repeat E16-19 assuming that Gretta Company reports under IFRS and measures the debt security at amortized cost. Gretta determines that there has not been a significant increase in credit risk in 2021...
-
You are reviewing the financial statements of Trident Incorporated and observed that Trident entered into a significant operating lease for office equipment at the end of the current year. Because of...
-
Plash Photo Company leased a digital reproduction machine on January 1, 2022. The following information was obtained from the lease contract: The lease carries a term of 5 years. There is no renewal...
-
why should Undertake research to review reasons for previous profit or loss?
-
A pension fund's liabilities has a PV01 of $200 million. The plan has $100 billion of assets with a weighted average modified duration of 8. The highest duration bond that the plan can invest in has...
-
Metlock Limited has signed a lease agreement with Lantus Corp. to lease equipment with an expected lifespan of eight years, no estimated salvage value, and a cost to Lantus, the lessor of $170,000....
Study smarter with the SolutionInn App