Homework Help is Here – Start Your Trial Now!
Business
Accounting
e the following information for the next two (2) questions: IStalk has the following information for its five business segments for the year 2016: Segment assets 10,000,000 Segment External Revenue Internal Revenue Segment profit (loss) 6,000,000 (3,000,000) (2,500,000) 600,000 4,000,000 2,000,000 A 15,000,000 4,500,000 5,000,000 C 2,500,000| 1,500,000 1,000,000 700,000 4,000,000 2,000,000 1,000,000 D 500,000 300,000 (1,500,000) Based on revenue test, which of the foregoing are reportable segments? С. А, В, С, D, E A А, В, С В. А, В, С, D D. A, B Based on profit or loss test, how many reportable segments? С. 4 A В. 3 D. 5

e the following information for the next two (2) questions: IStalk has the following information for its five business segments for the year 2016: Segment assets 10,000,000 Segment External Revenue Internal Revenue Segment profit (loss) 6,000,000 (3,000,000) (2,500,000) 600,000 4,000,000 2,000,000 A 15,000,000 4,500,000 5,000,000 C 2,500,000| 1,500,000 1,000,000 700,000 4,000,000 2,000,000 1,000,000 D 500,000 300,000 (1,500,000) Based on revenue test, which of the foregoing are reportable segments? С. А, В, С, D, E A А, В, С В. А, В, С, D D. A, B Based on profit or loss test, how many reportable segments? С. 4 A В. 3 D. 5

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

PLEASE ANSWER WITH SOLUTIONS 

Use the following information for the next two (2) questions: Rift Stalk has the following information for its five business segments for the year 2016: Segment External Revenue Internal Revenue Segment profit (loss) Segment assets 15,000,000 4,000,000 2,000,000 A 6,000,000 10,000,000 4,500,000 (3,000,000) 5,000,000 2,500,000 (2,500,000) 600,000 C 1,000,000 4,000,000 D 1,500,000 700,000 2,000,000 E 500,000 300,000 (1,500,000) 1,000,000 Based on revenue test, which of the foregoing are reportable segments? A А, В, С В. А, В., С, D С. А, В, С, D, E D. A, B Based on profit or loss test, how many reportable segments? A 2 В. 3 С. 4 D. 5
Transcribed Image Text:Use the following information for the next two (2) questions: Rift Stalk has the following information for its five business segments for the year 2016: Segment External Revenue Internal Revenue Segment profit (loss) Segment assets 15,000,000 4,000,000 2,000,000 A 6,000,000 10,000,000 4,500,000 (3,000,000) 5,000,000 2,500,000 (2,500,000) 600,000 C 1,000,000 4,000,000 D 1,500,000 700,000 2,000,000 E 500,000 300,000 (1,500,000) 1,000,000 Based on revenue test, which of the foregoing are reportable segments? A А, В, С В. А, В., С, D С. А, В, С, D, E D. A, B Based on profit or loss test, how many reportable segments? A 2 В. 3 С. 4 D. 5
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Data analytics process (IMPACT cycle)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS