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liabilities of $550,000. Which of the following tests makes Sun a reportable segment? A. Revenue test. B. Profit test. C. Asset test. D. Liability test.

liabilities of $550,000. Which of the following tests makes Sun a reportable segment? A. Revenue test. B. Profit test. C. Asset test. D. Liability test.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company has a total revenue of $1,000,000, profits of $90,000, total assets of $10,000,000, and total liabilities of $5,000,000. Operating segment Sun has revenues of $95,000, profit of $10,000, assets of $900,000, and liabilities of $550,000. Which of the following tests makes Sun a reportable segment? A. Revenue test. B. Profit test. C. Asset test. D. Liability test.
Transcribed Image Text:A company has a total revenue of $1,000,000, profits of $90,000, total assets of $10,000,000, and total liabilities of $5,000,000. Operating segment Sun has revenues of $95,000, profit of $10,000, assets of $900,000, and liabilities of $550,000. Which of the following tests makes Sun a reportable segment? A. Revenue test. B. Profit test. C. Asset test. D. Liability test.
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