Question 1

_____ The 75% test is based on

Accepted Answer

A)  Consolidated revenues. 
B)  Consolidated revenues minus intersegment revenues. 
C)  Consolidated revenues minus intrasegment revenues. 
D)  Consolidated revenues plus intersegment revenues minus intrasegment revenues. 
E)  None of the above. 
A)  Consolidated revenues. 
B)  Consolidated revenues minus intersegment revenues. 
C)  Consolidated revenues minus intrasegment revenues. 
D)  Consolidated revenues plus intersegment revenues minus intrasegment revenues. 
E)  None of the above.

Question 2

For segment reporting purposes, the components of a vertically integrated business

Accepted Answer

A)  Cannot be reported separately. 
B)  Must be reported separately. 
C)  May or may not be reported separately depending on the circumstances. 
D)  None of the above. 
A)  Cannot be reported separately. 
B)  Must be reported separately. 
C)  May or may not be reported separately depending on the circumstances. 
D)  None of the above.

Question 3

_____ Which separate segment amounts does FAS 131 require to be disclosed for each reportable segment when the amounts are used in the measure of segment profitability used by the CODM?

Accepted Answer

The answer of _____ Which separate segment amounts does FAS...

Question 4

_____ An entity that operates in several industries has (a) external sales of $50,000,000, (b) intrasegment sales of $5,000,000, and (c) intersegment sales of $4,000,000. In performing the 75% test, the 75% is applied to

Accepted Answer

A)  $4,000,000 
B)  $50,000,000 
C)  $54,000,000 
D)  $55,000,000 
E)  $59,000,000 
A)  $4,000,000 
B)  $50,000,000 
C)  $54,000,000 
D)  $55,000,000 
E)  $59,000,000

Question 5

Intercompany sales that occur within a vertically integrated segment are called _______________________________ sales.

Accepted Answer

The answer of Intercompany sales that occur within a vertically...

Question 6

_____ The 10% revenues test used to determine reportable segments uses a revenues amount that includes

Accepted Answer

A)  Intersegment sales. 
B)  Intersegment interest income. 
C)  External interest income. 
D)  a, b, and c. 
E)  None of the above. 
A)  Intersegment sales. 
B)  Intersegment interest income. 
C)  External interest income. 
D)  a, b, and c. 
E)  None of the above.

Question 7

Aggregation of segments is allowed only if the 75% test is satisfied.

Accepted Answer

A) True 
 B)False

Question 8

_____ Which of the following items does FAS 131 require to be included in the measure of profitability used by the CODM in managing segments?

Accepted Answer

A)  Goodwill amortization expense. 
B)  Extraordinary items. 
C)  Interest revenues. 
D)  Interest expense. 
E)  None of the above. 
A)  Goodwill amortization expense. 
B)  Extraordinary items. 
C)  Interest revenues. 
D)  Interest expense. 
E)  None of the above.

Question 9

_____ An entity has four operating segments. For 2006, their measures of profitability are $100,000, $200,000, and $(550,000), and $(5,000). In applying the 10% profitability test to determine reportable segments, the 10% is applied to:

Accepted Answer

A)  $(555,000) 
B)  $(550,000) 
C)  $(255,000) 
D)  $ 300,000 
E)  $ 855,000 
A)  $(555,000) 
B)  $(550,000) 
C)  $(255,000) 
D)  $ 300,000 
E)  $ 855,000

Question 10

Aggregation may be performed immediately after all operating segments have been _______________________. It may also be performed later immediately after all ________________________ segments have been determined.

Accepted Answer

The answer of Aggregation may be performed immediately after all...

_____ The 75% test is based on

For segment reporting purposes, the components of a vertically integrated business

_____ Which separate segment amounts does FAS 131 require to be disclosed for each reportable segment when the amounts are used in the measure of segment profitability used by the CODM?

_____ An entity that operates in several industries has (a) external sales of $50,000,000, (b) intrasegment sales of $5,000,000, and (c) intersegment sales of $4,000,000. In performing the 75% test, the 75% is applied to

Intercompany sales that occur within a vertically integrated segment are called _______________________________ sales.

_____ The 10% revenues test used to determine reportable segments uses a revenues amount that includes

Aggregation of segments is allowed only if the 75% test is satisfied.

_____ Which of the following items does FAS 131 require to be included in the measure of profitability used by the CODM in managing segments?

_____ An entity has four operating segments. For 2006, their measures of profitability are $100,000, $200,000, and $(550,000), and $(5,000). In applying the 10% profitability test to determine reportable segments, the 10% is applied to:

Aggregation may be performed immediately after all operating segments have been _. It may also be performed later immediately after all __ segments have been determined.

Wholly Owned Subsidiaries: at Date of Creation

Wholly Owned Subsidiaries: Postcreation Periods

Partially Owned Created Subsidiaries & Variable Interest Entities

Introduction to Business Combinations

The Purchase Method: at Date of Acquisition-100 Ownership

The Purchase Method: Postacquisition Periods and Partial Ownerships

New Basis of Accounting

Introduction to Intercompany Transactions

Intercompany Inventory Transfers

Intercompany Fixed Asset Transfers & Bond Holdings

Changes in a Parents Ownership Interest, Statement of Cash Flows, & Earnings Per Share

International Accounting Standards & Translating Foreign Currency Transactions

Using Derivatives to Manage Foreign Currency Exposures

Translating Foreign Currency Statements: The Current Rate Method

Translating Foreign Currency Statements: The Temporal Method and the Functional Currency Concept

Interim Period Reporting

Securities and Exchange Commission Reporting

Bankruptcy Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Changes in Ownership

Partnerships: Liquidations

Estates and Trusts

Governmental Accounting: Basic Principles and the General Fund

Governmental Accounting: The Special-Purpose Funds and Special General Ledger

Not-For-Profit Organizations: Introduction and Private Npos

Filters

Exam 12: Reporting Segment and Related Information

_____ The 75% test is based on

For segment reporting purposes, the components of a vertically integrated business

_____ Which separate segment amounts does FAS 131 require to be disclosed for each reportable segment when the amounts are used in the measure of segment profitability used by the CODM?

_____ An entity that operates in several industries has (a) external sales of $50,000,000, (b) intrasegment sales of $5,000,000, and (c) intersegment sales of $4,000,000. In performing the 75% test, the 75% is applied to

Intercompany sales that occur within a vertically integrated segment are called _______________________________ sales.

_____ The 10% revenues test used to determine reportable segments uses a revenues amount that includes

Aggregation of segments is allowed only if the 75% test is satisfied.

_____ Which of the following items does FAS 131 require to be included in the measure of profitability used by the CODM in managing segments?

_____ An entity has four operating segments. For 2006, their measures of profitability are $100,000, $200,000, and $(550,000), and $(5,000). In applying the 10% profitability test to determine reportable segments, the 10% is applied to:

Aggregation may be performed immediately after all operating segments have been _______________________. It may also be performed later immediately after all ________________________ segments have been determined.

Wholly Owned Subsidiaries: at Date of Creation

Wholly Owned Subsidiaries: Postcreation Periods

Partially Owned Created Subsidiaries & Variable Interest Entities

Introduction to Business Combinations

The Purchase Method: at Date of Acquisition-100 Ownership

The Purchase Method: Postacquisition Periods and Partial Ownerships

New Basis of Accounting

Introduction to Intercompany Transactions

Intercompany Inventory Transfers

Intercompany Fixed Asset Transfers & Bond Holdings

Changes in a Parents Ownership Interest, Statement of Cash Flows, & Earnings Per Share

International Accounting Standards & Translating Foreign Currency Transactions

Using Derivatives to Manage Foreign Currency Exposures

Translating Foreign Currency Statements: The Current Rate Method

Translating Foreign Currency Statements: The Temporal Method and the Functional Currency Concept

Interim Period Reporting

Securities and Exchange Commission Reporting

Bankruptcy Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Changes in Ownership

Partnerships: Liquidations

Estates and Trusts

Governmental Accounting: Basic Principles and the General Fund

Governmental Accounting: The Special-Purpose Funds and Special General Ledger

Not-For-Profit Organizations: Introduction and Private Npos

Filters

Aggregation may be performed immediately after all operating segments have been _. It may also be performed later immediately after all __ segments have been determined.