Whitley Corporation Identified Four Operating Segments: Automotive, Electrical, Lawn Equipment
Whitley Corporation identified four operating segments: Automotive, Electrical, Lawn Equipment, and Sporting Goods. Automotive met the revenue test and the profit or loss test. Electrical met all three tests. Lawn Equipment met only the asset test. Sporting Goods did not meet any of the three tests. Which of these segments must be disclosed separately? 
Definitions:
Wagner Act
Officially known as the National Labor Relations Act of 1935, it is a foundational statute of United States labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action including strikes.
FTC Act
A federal law established to prevent unfair methods of competition, and unfair or deceptive acts affecting commerce.
Celler-Kefauver Act
The federal law of 1950 that amended the Clayton Act by prohibiting the acquisition of the assets of one firm by another firm when the effect would be less competition.
Federal Trade Commission
A U.S. government agency whose mission is to protect consumers and promote competition.
Q2: Norton Co., a U.S. corporation, sold inventory
Q16: A company sells a building to a
Q22: On October 1, 2011, Eagle Company forecasts
Q37: What events cause the dissolution of a
Q38: Gamma Co. owns 80% of Delta Corp.,
Q64: What is the primary focus of the
Q75: On November 10, 2011, King Co. sold
Q79: Frankfurter Company, a U.S. company, had a
Q91: Elektronix, Inc. has three operating segments with
Q95: A U.S. company's foreign subsidiary had the