COMPREHENSIVE INCOME Definition

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COMPREHENSIVE INCOME is change in equity (net assets) of an entity during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners.

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NONCURRENT LIABILITIES are liabilities that represent money the entity owes one year or more in the future. There are many line items in this category, the most important one being long-term debt.

DEFERRED TAXES refers to all deferred taxes.

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