Which of the Following Must Be Disclosed by a Geographic

question 74

Multiple Choice

Which of the following must be disclosed by a geographic segment according to U.S. GAAP?

• A) Operating profit or loss.
• B) Gross profit.
• C) Total assets.
• D) Revenues from external customers.
• E) Revenues from internal customers.

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Definitions:

Laffer Curve

A theoretical representation of the relationship between government revenue raised by taxation and all possible rates of taxation, suggesting that higher tax rates beyond a certain point actually decrease total revenue.

Elasticities

Measures of how much the quantity demanded or supplied of a good responds to changes in price, income, or other factors.

Demand

The total quantity of goods or services that consumers are willing and able to purchase at a given price level in a market.

Supply

The total amount of a specific good or service that is available to consumers in a market at a given time and price.