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Realized gains or losses: Realized gain is the difference between the original value and the sale proceeds value from completed transaction.
Realized loss is monetary loss occurred during the trade settlements from completed transaction.
Net income: Net income is the total income of the company calculated after deducting its expenses and taxes during the particular period.
Other comprehensive income or losses: All the incomes, gains losses or expenses which are excluded from net income on the income statement are recorded as other comprehensive income using both GAAP as well as IFRS accounting principles.
To determine the reason for necessity of re-classification adjustments.
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Chapter 17 Solutions
Intermediate Accounting 16E Binder Ready Version With Wiley Plus Blackboard
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