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According to the FASB's conceptual framework, comprehensive income includes which of the following:

A. Gross margin
B. Operating income
C. Unrealized gains and losses on available-for-sale securities
D. Interest expense

User Mvcoile
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1 Answer

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Final answer:

Comprehensive income includes unrealized gains and losses on available-for-sale securities, but not gross margin, operating income, or interest expense according to the FASB's framework.

Step-by-step explanation:

According to the FASB's conceptual framework, comprehensive income includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners. Among the options provided, unrealized gains and losses on available-for-sale securities are included in comprehensive income. These reflect changes in the fair value of securities that have not yet been realized through a sale. Gross margin, operating income, and interest expense are components of net income rather than comprehensive income.

User Edo Post
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