Ask Question
11 March, 12:07

The change in equity (net assets) of an entity during a period from transactions and other events and circumstances from non-owner sources is called:

a) comprehensive income.

b) revenues.

c) net income.

d) gains.

+3
Answers (1)
  1. 11 March, 14:26
    0
    The correct answer is comprehensive income.

    Explanation:

    The change in equity (net assets) of an entity during a period from transactions and other events and circumstances from non-owner sources is called comprehensive income.

    Comprehensive income includes all the revenues, losses, gains and expenses.

    Formula of calculation:

    Comprehensive income = Net Income + Other Comprehensive Income

    The comprehensive income is also known as stockholders' equity, retained earnings, accumulated other comprehensive income.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The change in equity (net assets) of an entity during a period from transactions and other events and circumstances from non-owner sources ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers