Question: a ) . Define Comprehensive and Other Comprehensive Income. ( b ) . Discuss alternative formats for reporting comprehensive income. ( c ) . Explain

a). Define Comprehensive and Other Comprehensive Income.
(b). Discuss alternative formats for reporting comprehensive income.
(c). Explain the usefulness of reporting the components of comprehensive income.
(d). What justification is there for valuing equity securities at fair value and reporting
the unrealized gain or loss as part of net income?

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