statement. What calculation below correctly determines whether Crisfield Company's reportable segments satisfy the 75% revenue test? c. $12,000,000/$13,200,000 Which of the following is true about the 10% test? Select one: a. The 10% test is used to determine reportable segments. Main Manufacturing Corporation reported consolidated revenues of $50,000,000 on its income statement for 2018. The management of the corporation identified 3 industry segments, M, N, and O. These segments had the following intersegment sales and transfers during 2018: For Main Manufacturing Corporation, the revenue test would be satisfied if any of its industry segments had revenue equal to or greater than which of the following? Select one: a. $5,740,000 Collins Company reported consolidated revenue of $120,000,000 in 2018. Collins operates in two geographic areas, domestic and Asia. The following information pertains to these two areas: What calculation below is correct to determine if the revenue test is satisfied for the Asian operations? d. $50,000,000/$120,000,000
Which of the operating segments below meet the operating profit (loss) test? b. B and E Stone Company reported $100,000,000 of revenues on its 2018 income statement. During the year ended December 31, 2018, Stone made sales of $8,000,000 to external customers in Western Europe. In addition, Stone made sales of $10,000,000 to the U.S. government and $4,000,000 of sales to various state governments. In the footnotes to its financial statements for 2008, in reporting enterprise wide disclosures, Stone is required to disclose: c. Option A Segments can be combined into an "other" category if: c. At least 75% of the enterprise's consolidated external revenues are disclosed by segment reporting. Which of the following is not one of the pieces of information that should be reported for a segment?Select one: a. Total assets, if regularly providedb. Total gross revenues, if regularly providedc. A measure of profits/lossesd. A measure of liabilities, if regularly provided What is the focus of the guidelines surrounding the identification of segments? Select one: a. Decision-making process within the enterprise The management approach to the definition of segments for financial reporting expects a company to: I. Report disaggregated information on the same organizational basis as used by the company's
internal decision makers. II. Report disaggregated information for at least ten segments. d. I In computing basic EPS, the full amount of the required preference dividends on cumulative preference shares for the period should be b. Deducted from profit whether declared or not The reporting of earnings per share is required only for: d. Publicly traded corporations. Earnings per share disclosures are required only for d. Public companies. Earnings per share disclosure is required for which of the following: Select one: b. Companies who have made a filing with the SEC in preparation for a sale of public securities.
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