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According to the FASB conceptual framework, earnings?


Tricky CPA questions. Need Help!

A. include certain gains and losses that are excluded from comprehensive income.
B.include certain losses that are excluded from comprehensive income.
C.are the same as comprehensive income.
D.exclude certain gains and losses that are included in comprehensive income.

538 day(s) ago

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Answers (1)

alohachris 		I believe the answer would be D. Most earnings reports exclude extraordinary gains and losses. However, those gains/losses are included in comprehensive income.

Posted 538 days ago

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