Note: This Is a Kaplan CPA Review Question

question 33

Multiple Choice

Note: This is a Kaplan CPA Review Question
Which of the following characteristics would render the operating unit "reportable"? The operating unit comprises at least:

• A) 5 percent of the assets of a company as a whole.
• B) 10 percent of the revenues of the company as a whole.
• C) 50 percent of the long term debt of the company as a whole.
• D) 20 percent of the operating profit of the company as a whole.

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Definitions:

Regulations

Rules or directives made and maintained by an authority to control or govern behavior.

Deviant Lying

Telling falsehoods that significantly deviate from social norms or expectations, often with harmful effects or intentions.

Violate

To break or fail to comply with a rule, law, agreement, or principle.

Deception

The act of misleading or tricking someone into believing something that is not true.