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  1. business
  2. accounting
  3. in the current year, a company has a gain of $50,0

In the current year, a company has a gain of $50,000. The company's accountant...

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Question

Accounting

In the current year, a company has a gain of $50,000. The company's
accountant is deciding whether to report this gain as part of
nonoperating income in the income statement or as part of other
comprehensive income. Which of the following is true?
01-26-29
Multiple Choice
Skipped
Total assets will be greater if the gain is
eBook
reported as part of other comprehensive
income.
Total shareholders' equity will be greater if
the gain is reported as part of other
comprehensive income.
Net income will be same under either choice.
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