Select either reportable or not reportable for each segment Following is information regarding the...

50.1K

Verified Solution

Question

Accounting

Select either reportable or not reportable for each segmentimage

Following is information regarding the four distinct industries in which Antique Accents operates. Segment Total revenue Operating expenses Assets A $26,000 $35,000 $45,000 B 44,000 32,000 15,000 145,000 122,000 249,000 D 192,000 192,000 57,000 Totals $407,000 $381,000 $366,000 For each segment, indicate whether or not it must be reportable and therefore warrant disclosure using each of the following tests: a) The revenue test is used for the determination of reportability. Segment A: (Select one) Segment B: (Select one) Segment C: (Select one) Segment D: (Select one) b) The operating profit/(loss) test is used for the determination of reportability. Segment A: (Select one) Segment B: (Select one) Segment C: (Select one) Segment D: (Select one) c) The assets test is used for the determination of reportability. Segment A: (Select one) Segment B: (Select one) Segment C: (Select one) Segment D: (Select one)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students