ASC 280 Requires Certain Disclosures About Major Customers

question 60

Multiple Choice

ASC 280 requires certain disclosures about major customers.All of the following statements about those disclosures are true with the exception of which statement?

• A)The identity of the segment reporting the revenue from a significant customer must be disclosed a footnote.
• B)The amount of revenue from a significant customer must be disclosed in a footnote.
• C)For applying the disclosure test,there is no specific threshold (percent of total revenues)that is defined as "significant".
• D)A local,state,or foreign government can be considered a major customer.

Identify ethical considerations and potential biases in the recruitment process.

Comprehend the process of human resource planning and its steps.

Discuss the advantages and disadvantages of internal sources of recruitment.

Understand the concept of early and phased retirement programs and their benefits.

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Definitions:

Theocracy

Rule by (i.e., leadership of the society accorded to) the most powerful religious people. (Literally, “rule by God.”)

Religious Figure

An individual who is recognized within a religion for their sanctity, leadership, or spiritual insight.

Philosophy

Philosophy is the study of fundamental questions about existence, knowledge, values, reason, mind, and language.

Racist Society

A social structure in which systemic racism is practiced, normalized, and enforced by societal customs, laws, and policies.