Note: This Is a Kaplan CPA Review Question

Multiple Choice

Note: This is a Kaplan CPA Review Question
Grum Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ended December 31^st, Grum reported consolidated revenues of $50,000,000, operating expenses of $47,000,000, and net income of $3,000,000. Operating expenses include payroll costs of $15,000,000. Grum's combined identifiable assets of all industry segments at December 31^st, were $40,000,000. In its year-end financial statements, Grum would be most likely to disclose major customer data if sales to any single customer amounted to at least:

A) $1,500,000
B) $300,000
C) $5,000,000
D) $4,000,000