Ansfield, Inc

question 15

Multiple Choice

Ansfield, Inc. has several potentially reportable segments. The following financial information has been determined for the current fiscal year: The minimum amount of revenues a segment must have to qualify as reportable is ____.

• A)$700,000
• B)$800,000
• C)$820,000
• D)The answer cannot be determined from the information given.

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Definitions:

Market Value

The price at which assets or services are currently being exchanged in the marketplace.

Accumulated Depreciation

The total amount of a company's asset value that has been expensed as depreciation since the asset was acquired.

Accounts Receivable

Financial claims of a business against its customers for the provision of goods or services, which have not been paid for.

Partners' Equity

The ownership interest of partners in a partnership, representing their original investments plus any accumulated profits or minus any losses.