Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Question
Chapter 8, Problem 19P
To determine
Identify the item which is not required to be reported in interim financial statements for each material operating segment.
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Choose the correct.Which of the following items is not required to be reported in interim financial statements for each material operating segment?a. Revenues from external customers.b. Intersegment revenues.c. Segment assets.d. Segment profit or loss.
Which of the following is not considered when determining whether an operating segment qualifies as a reportable segment?
a.the assets of the segment
b.the shareholders’ equity of the segment
c.the absolute amount of its profit or loss
d.revenue of the segment
The following are required operating segment disclosure items, EXCEPT:
Segment cash flows
None of the listed choices
Segment Liabilities
Segment profit or loss
Segment assets
Chapter 8 Solutions
Advanced Accounting
Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - Prob. 11QCh. 8 - To satisfy geographic area disclosure...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - Prob. 16QCh. 8 - Prob. 17QCh. 8 - How does a company determine the amount of income...Ch. 8 - Prob. 19QCh. 8 - Prob. 20QCh. 8 - What type of segment information must companies...Ch. 8 - How would an annual bonus paid at year-end be...Ch. 8 - Which of the following does U.S. GAAP not consider...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Which of the following is not necessarily true for...Ch. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Which of the following items is required to be...Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Which of the following information items with...Ch. 8 - Prob. 14PCh. 8 - In considering interim financial reporting, how...Ch. 8 - How should material seasonal variations in revenue...Ch. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Niceville Company pays property taxes of 100,000...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Noventis Corporation prepared the following...
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Similar questions
- Which of the following is an assumption made in the preparation of the financial statements? Select one: a. The current market value is assumed to be less relevant than the original cost paid. b. Financial statements are prepared for a specific entity that is distinct from the entity's owners. c. The preparation of financial statements for a specific time period assumes that the balance sheet covers a designated period of time. d. Financial statements are prepared assuming that inflationarrow_forward1. The disclosure requirements for an operating segment do not include: a. Unusual items b. Income tax expense or benefit c. Interest revenue d. Cost of goods or services sold 2. A reconciliation between the numbers disclosed in operating segments and consolidated numbers need not be provided for: a. Cost of goods sold b. Profit or loss c. Net assets d. Revenues 3. Each reportable segment is required to disclose the following information except for: a. Unusual items b. Depreciation, depletion, and amortization c. Capital expenditures d. Gross profit or loss 4. An enterprise is required to disclose information about its major customers if 10 percent or more of its revenue is derived from any single customer. This disclosure must include: a. The products or services generating the revenue from such sales b. The operating segment or segments making such sales and the total revenue from the customer c. The name of the customer to whom the sales were made d. The dollar amounts of revenue…arrow_forwardIt is required to present earnings per share for: Select one: a.income from continuing operations before the effect of discontinued operations. b.the gross profit. c.operating income. d.Income before Other Comprehensive Income.arrow_forward
- The normal ordering of items in the income statement would be best illustrated by which of the following? Group of answer choices A. Income from continuing operations, extraordinary items, cumulative effects, discontinued operations, net income B. Income from continuing operations, discontinued operations, extraordinary items, cumulative effects, net income C. Extraordinary items, cumulative effects, income from continuing operations, discontinued operations, net income D.Discontinued operations, income from continuing operations, extraordinary items, cumulative effects, net incomearrow_forwardIn 'Percentage of Sales' method of preparation of Pro-jected Financial Statements, the Operating Expenses should be projected on the basis of:arrow_forwardWhich are segments are reportable segments? Is there a sufficient number of reportable segments disclosed? If the company is a non public entity, which segments are required to be disclosed?arrow_forward
- Under the U.S. GAAP, which of the following is not an approach used to determine when to report an expense? A. match with revenues B. when incurred C. systematic allocation D. net realizable valuearrow_forwardThe following statements relate to analysis of expenses in the income statement based on either the nature ofexpenses or their function within the entity. Which statement is incorrect?I. An entity classifying expenses by function shall disclose additional information on the nature ifexpenses including depreciation, amortization expenses and employee benefit cost.II. PAS 1 requires the use of the cost of sales method because this presentation often provides morerelevant information to users than the nature of expense method. a. I onlyb. II onlyc. Both I and IId. Neither I nor IIarrow_forwardCurrent ratio is stated as a crude ratio because O a. None of these O b. It measures only the quality of current assets O c. Offerings dimension Od. Both a and b Oe. It measures only the quantity of current assetsarrow_forward
- Will the financial statements of a company always differ when different choices at the start of the accounting period are made regarding the denominator-level capacity concept?arrow_forwardOperational revenues would not result from which of the following transactions? Select one: a. Business rental of property b. Performance of services c. Sale of merchandise inventory d. Issuance of preferred stockarrow_forwardWhich of the following is not an accepted basis for recognition of revenue?A. Passage of timeB. Completion of percentage of a projectC. Performance of serviceD. Upon signing of contractarrow_forward
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