Which of the Following Is Not a Requirement for a Business

question 50

Multiple Choice

Which of the following is not a requirement for a business component to be considered an Operating Segment under current Canadian GAAP?

• A) Discrete financial information must be available.
• B) Operating results are regularly reviewed by the enterprise's Chief Operating Decision Maker to make decisions about resources to be allocated to the segment and assess its performance.
• C) The reportable income or loss must be at least 10% of the combined profit or loss for the combined entity.
• D) It engages in business activities from which it may earn revenues and incur expenses.

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Definitions:

Longitudinal

A type of study in which data from the same subjects is gathered for a prolonged period of time to observe changes or outcomes.

Cross-Sectional

In research, a study that examines a population or a phenomenon at a single point in time, allowing for snapshot comparisons.

Centration

A cognitive limitation in early childhood thinking, where a child focuses on one aspect of a situation, neglecting other important features.

Piaget

A Swiss psychologist known for his pioneering work on the development of children's cognitive abilities through stages.