Generally Accepted Accounting Principles Require a U

question 1

Multiple Choice

Generally accepted accounting principles require a U.S. corporation to disclose the following disaggregated information for each operating segment, except:

• A) Revenues from external customers.
• B) Discontinued operations.
• C) Cost of goods sold.
• D) Depreciation expense.
• E) Intersegment revenues.

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Definitions:

Initial Franchise Fee

A one-time payment made by a franchisee to the franchisor when a new franchise agreement is signed, covering rights to use trademarks, systems, and support.

Substantial Performance

A legal principle indicating that a party has fulfilled enough of its contract obligations to warrant payment, despite minor issues.

Employee Training

Programs and activities aimed at increasing the skills, knowledge, and competencies of employees to improve their performance and efficiency.

Management Training

A process or program to improve the skills and knowledge of managers within an organization, focusing on various aspects of management and leadership.