Final answer:
True, comprehensive income encapsulates all changes in shareholders' equity during a period except for those arising from transactions with shareholders, like share transactions and dividends.
Step-by-step explanation:
The statement that comprehensive income includes all changes in shareholders' equity during a period except for changes from the sale or repurchase of shares or the payment of dividends is True. Comprehensive income captures all changes in equity that are not a result of transactions with shareholders themselves, such as issuing new shares (stock) during an initial public offering (IPO) or when shareholders sell stock to each other, as well as paying out dividends.
Thus, comprehensive income includes items such as net income, foreign currency translation adjustments, adjustments for minimum pension liabilities, and unrealized gains and losses on certain investments in debt and equity securities. These components provide a more inclusive picture of a company's financial health than net income alone.