Chapter 13, Problem 13.7Q

To determine

Introduction: ASC 280 requires disclosure about major customers. For the application of this disclosure test, each of the following is considered to be an individual customer, any single customer, including a group of customers or companies, the governments or a foreign government. Materiality is not defined for this disclosure, but the 10 percent guidelines seem to have gained the support of the practice.

The information that must be disclosed about a company’s major customer.