Wayne, Inc

question 59

Multiple Choice

Wayne, Inc. has four operating segments with the following information: What is the minimum amount of revenue an operating segment must have to be considered a reportable segment?

• A) $1,355,200.
• B) $1,293,000.
• C) $622,000.
• D) $1,230,800.
• E) $955,400.

Understand the operational and financial benefits of sales discounts on credit sales and inventory systems.

Understand the definition and components of quick assets.

Identify the role of merchandise inventory in financial statements and its impact on operating cycles.

Recognize the categorization of expenses within the income statement.

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Definitions:

Wagner Act

Also known as the National Labor Relations Act of 1935, it established the legal right for workers to form unions, engage in collective bargaining, and take collective action in the United States.

Union Membership

The state of being a member of a labor union, which involves participation in the union's activities and adherence to its rules and agreements.

Labor Power

The ability of workers to negotiate the value of their work and conditions of employment, often through collective bargaining.

Taft-Hartley Amendments

A federal legislation from 1947 that limited the functions and authority of labor unions within the United States.