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15. Which of the following information items with regard to a major customer must be disclosed? a. The identity of the major customer b. The percentage of total income derived from the major customer c. The operating segment making sales to the major customer d. The geographic area in which sales to the major customer are made 16. Which of the following statements is true for a company that has mangers responsible for product and service lines of business and managers responsible for geographic areas (matrix form of organization)? a. Under U.S. GAAP, the company must base operating segments on geographic areas. b. Under IFRS, the company must base operating segments on product and service lines of business. c. Under U.S. GAAP, the company may choose to define operating segments on the basis of either products and services or geographic areas. d. Under IFRS, the company must refer to the core principle of IFRS 8 to determine operating segments. 17. In considering interim financial reporting, how does current U.S. GAAP require that such reporting be viewed? a. As a special type of reporting that need not follow generally accepted accounting principles b. As useful only if activity is evenly spread throughout the year, making estimates unnecessary c. As reporting for a basic accounting period d. As reporting for an integral part of an annual period

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