D - Which of the following does US GAAP not consider to be an objective of segment reporting?
A) It helps users better understand the enterprise's performance
B) It helps users better assess the enterprise's prospects for the future
C) It helps users make more informed judgments about the enterp...
D - Which of the following does US GAAP not consider to be an objective of segment reporting?
A) It helps users better understand the enterprise's performance
B) It helps users better assess the enterprise's prospects for the future
C) It helps users make more informed judgments about the enterprise as a whole
D) It helps users make comparisons between a segment of one enterprise and a similar segment of
another enterprise
C - Under current US accounting guidelines, which of the following items of information is a company
not required to disclose?
A) Revenues generated from sales of its consumer products line of goods
B) Revenues generated by its Japanese subsidiary
C) Revenues generated from export sales
D) Revenues generated from sales to Walmart
A - Which of the following operating segment disclosures is not required under current US accounting
guidelines?
A) Liabilities
B) Interest Expense
C) Intersegment Sales
D) Unusual Items
C - In determining whether a particular operating segment is of significant size to warrant disclosure
which of the following is true?
A) There tests are applied, all must be met
B) Four tests are applied, one must be met
C) There tests are applied, one must be met
, D) Four tests are applied, all must be met
B - Which of the following statements is not true under US GAAP?
A) Operating segments can be determined by looking at a company's organization chart
B) Companies must combine individual foreign countries into geographic areas to comply with the
geographic area disclosure requirement
C) Companies that define their operating segments by product lines must provide revenue and asset info
for the domestic country, for all foreign countries in total, and for each material foreign country
D) Companies must disclose total assets, investment in equity method affiliates, and total expenditures
for long lived assets by operating segment
D - Which of the following is not necessarily true for an operating segment?
A) An operating segment earns revenues and incurs expenses
B) The chief operating decision maker regularly reviews an operating segment to assess performance
and make resource allocation decisions
C) Discrete financial information generated by the internal accounting system is available for an
operating segment
D) An operating segment regularly generates a profit from its normal ongoing operations
C - Which of the following is a criterion for determining whether an operating segment is separately
reportable?
A) Segment liabilities are 10% or more of consolidated liabilities
B) Segment profit or loss is 10% or more of consolidated net income
C) Segment assets are 10% or more of combined segment assets
D) Segment revenues from external sales are 5% or more of combined segment revenues from external
sales
A - Which of the following statements regarding US GAAP is true?
A) Does not require segment information to be reported in accordance with GAAP
B) Does not require a reconciliation of segment assets to consolidated assets
C) Requires geographic area information to be disclosed in interim financial statements
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