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Faru Co Identified Five Industry Segments: (1) Plastics, (2) Metals, (3)

Question 58

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Faru Co. identified five industry segments: (1) plastics, (2) metals, (3) lumber, (4) paper, and (5) finance. Each of these segments had been consolidated appropriately by the company in producing its annual financial statements. Information describing each segment is presented below (in thousands). Faru Co. identified five industry segments: (1) plastics, (2) metals, (3) lumber, (4) paper, and (5) finance. Each of these segments had been consolidated appropriately by the company in producing its annual financial statements. Information describing each segment is presented below (in thousands). Prepare the asset test and determine which of these segments was separately reportable. Prepare the asset test and determine which of these segments was separately reportable.

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