Which of the Following Statements About Required Disclosures in Segmental

question 2

Multiple Choice

Which of the following statements about required disclosures in segmental reporting is not true?

• A) No more than ten segments may be reported.
• B) The name of each major customer does not have to be disclosed.
• C) Even if there is only one reportable segment, the company must report revenues from external customers for each product or service or each group of related products or services.
• D) Segmental information must be included in interim reporting.

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Definitions:

Special Circumstances

Unique or exceptional conditions that require specific consideration or treatment in legal, social, or other contexts.

Court Order

A formal directive issued by a court of law requiring a person or entity to do or refrain from doing something.

Debtor

An individual or entity that owes a debt to another; the opposite party being a creditor.

Secured Creditor

A creditor that has a legal claim, called a lien, on the debtor's assets, ensuring priority payment if the debtor defaults on the obligation.