Other comprehensive income:

Multiple Choice

• does not include foreign currency gains and losses.

• is consistently defined in international balance sheet presentation.

• is never adjusted for tax effects.

• consists of certain gains and losses included in comprehensive income but not yet recognized in the income statement..

• 2. Any increase in an asset may be offset by:

• an increase in another asset account.

• a corresponding decrease in a liability.

• a decrease in some other asset account.

• a corresponding decrease in owner equity.