For Each of the Following Situations, Select the Best Answer

question 30

Essay

For each of the following situations, select the best answer concerning segment disclosures of reportable segments.
(A.) Required to be disclosed by an operating segment, but not a geographical segment.
(B.) Required to be disclosed by a geographical segment, but not an operating segment.
(C.) Required to be disclosed by both an operating segment and a geographical segment.
(D.) Not required to be disclosed by either an operating segment or a geographical segment.
___ 1. Factors used to identify segments.
___ 2. Revenues from external customers.
___ 3. Types of products and services from which each segment derives its revenues.
___ 4. Names of major customers.
___ 5. Revenues from transactions with other segments.
___ 6. Interest revenue.
___ 7. Long-lived assets.
___ 8. Discontinued operations and extraordinary items, when applicable.
___ 9. Income tax expense or benefit.
___ 10. Revenues for the domestic country.
___ 11. Cash flow information

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Definitions:

Mode of Transportation

The method or means by which people, materials, and goods are moved from one place to another, such as by land, air, sea, or rail.

Cargo

Goods or produce transported, generally for commercial gain, by ship, aircraft, train, or truck.

Expensive

An attribute of goods or services characterized by a high price point, often due to quality, scarcity, or brand reputation.

Least Expensive

The option that requires the lowest financial outlay or cost.