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11 February, 10:09

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.

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Answers (1)
  1. 11 February, 13:13
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    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.
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