Question: 5. Why is a reclassification adjustment used when reporting other comprehensive income? a. Adjustment made to reclassify an item of comprehensive income as another item

5. Why is a reclassification adjustment used when reporting other comprehensive income?

a. Adjustment made to reclassify an item of comprehensive income as another item of comprehensive income.

b. Adjustment made to avoid double counting of items.

c. Adjustment made to make net income equal to comprehensive income.

d. Adjustment made to adjust for the income tax effect of reporting comprehensive income.

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