Each of the following would be reported as items of other comprehensive income except:a. foreign currency translation adjustment. b. gain on projected pension benefit obligation. c. deferred gain from derivatives. d. gain from the sale of equipment.

The correct answer is D

Explanation:

Other comprehensive income is income which involve losses, revenues, gains and expenses under both IFRS (stands for International Financial Reporting Standards) and GAAP (stands for Generally Accepted Accounting Principles), which are excluded from the net income on the income statement. In short, it means that are listed after the net income on the income statement.

The followings are stated under the income statement, which are:

Foreign currency translation gains or losses.

Gain on the projected obligation of pension benefit.

Pension prior service costs or credits.

Deferred gain from derivatives.

d. gain from the sale of equipment.

Explanation:

Other Comprehensive income: It is financial analysis tools that include all income, gain and losses which are not yet realized or paid. Other comprehensive income can be found in the liability side of Balance sheet as it is not realized in the specified accounting year.

There are few prime example of other comprehensive income:

Unrealized income from investment. Bonds. foreign currency translation. Pension plan.

Therefore, in the given items all are reported as other comprehensive income except gain from sale of equipment as it is recognized income.