Question: According to the professor the answer is not la D Which of the following statements is not true? a. The comprehensive income is defined as

According to the professor the answer is not la D

Which of the following statements is not true?

a.

The comprehensive income is defined as a "change in equity (net assets) of a business for a period.

b.

The comprehensive income should be reported only on income statement below the net income figure.

c.

Under US GAAP, the comprehensive income is required to be reported because income statement cannot catch all wealth change for the year

d.

Comprehensive income is a concept based on capital maintenance concept

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