Choose the correct. Which of the following statements is true for a company that has managers 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.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Choose the correct. Which of the following statements is true for a company that has managers 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.

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