What Information Does U

question 17

Multiple Choice

What information does U.S. GAAP require to be disclosed for a major customer?

• A) The identity of the customer.
• B) The operating segment reporting sales to the customer.
• C) The geographic area of the customer.
• D) The specific products or services purchased by the customer.
• E) The length of time the customer has been a customer of the company.

---

Definitions:

Accounting Manager

A professional responsible for overseeing and managing the accounting department's operations, ensuring accurate financial reporting and adherence to accounting principles.

Equivalent Units

A concept used in cost accounting to convert the amount of work done on partially finished goods into the number of fully completed units.

Conversion Costs

Costs incurred to convert raw materials into finished products, typically including labor and overhead expenses.

Unit Materials Cost

The cost assigned to a single unit of product, which includes the cost of raw materials used in its production.