Thompson Corp

question 16

Multiple Choice

Thompson Corp. was engaged solely in manufacturing operations. The following data pertain to the operating segments for 2020: What is the minimum amount of revenue that each of these segments must earn to be considered separately reportable?

• A) $4,585,000.
• B) $3,502,500.
• C) $5,490,200.
• D) $4,670,000.
• E) $9,595,000.

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Definitions:

Compensation

Payment or reward given to someone as a recompense for loss, injury, or suffering.

Legal Systems

The frameworks and institutions through which laws are developed, interpreted, and enforced to govern social behavior and resolve disputes.

Affirmed

In a legal context, when a higher court upholds the decision of a lower court, confirming the original decision was correct.

Varied

Characterized by diversity or difference; not uniform or consistent.