An Operating Segment Is a Reportable Segment If It

question 117

Multiple Choice

An operating segment is a reportable segment if it

• A) satisfies the revenue, profit, and asset tests.
• B) satisfies the revenue, profit, or asset tests.
• C) operates predominately within a single industry.
• D) satisfies the net income test.

---

Definitions:

Borrower

An individual, organization, or entity that receives funds from another under the condition of returning the funds, typically with interest, over a period of time.

Schedule B

A form used with the IRS tax return to report interest and ordinary dividend income.

Interest Income

Earnings received from investments like savings accounts, CDs, or bonds.

Taxpayer

An individual or entity that is obligated to make payments to municipal or governmental authorities based on income earned or property owned.