The Following Information Pertains to Freeman Corp According to IFRS, Freeman Has a Reportable Segment If That

question 26

Multiple Choice

The following information pertains to Freeman Corp. and its various divisions for the year ended December 31, 2020: $\begin{array}{llr} \text {Sales to external customers. } &\$2,250,000\\ \text { Intersegment sales of products similar to those sold to } &\\ \text { external customers } &675,000\\ \text { Interest earned onloans to other operating segments } &45,000\\\end{array}$
According to IFRS, Freeman has a reportable segment if that segment's revenue equals or exceeds

• A) $ 297,000.
• B) $ 292,500.
• C) $ 229,500.
• D) $ 225,000.

Describe the concept of elasticity in supply curves over different time horizons within competitive markets.

Calculate economic profits or losses for firms within competitive markets.

Evaluate the reasons firms enter, stay in, or exit from a market.

Differentiate between average revenue, marginal revenue, and their importance to profit-maximizing firms.

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Definitions:

Religious Services

Ceremonies or rituals conducted in accordance with the beliefs and traditions of a religion.

Work Day

The portion of the day typically allocated for professional work activities, varying in hours depending on the job and country.

Person-Role Conflict

Occurs when an individual's personal values or beliefs clash with the expectations of their professional role.

Demands

The needs or requirements specified by individuals or groups that need to be addressed or fulfilled.