GAAP Requires That Segment Information Be Reported

question 25

Multiple Choice

GAAP requires that segment information be reported

• A)by geographics,without regard to size of the segment.
• B)by geographics,without regard to industry or product-line.
• C)however management organizes the enterprise into units for internal decision-making and performance-evaluation purposes.
• D)by industry or product-line,without regard to geographics.

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Definitions:

Contract Clause

A provision found in the U.S. Constitution that prohibits states from enacting laws that impair the obligation of contracts.

Public Charters

Special flight operations sanctioned by the government, allowing operators to provide services that are normally outside of their standard offerings.

Federal Law

Laws passed by the national government of a country, which are supreme and have precedence over state laws in matters within the jurisdiction of the national government.

State Legislation

A body of laws and regulations enacted by the legislative branch of a state government.