An operating segment is a component of an undertaking:

(i) that engages in business activities from which it may earn revenues and incur expenses

(including revenues and expenses relating to transactions with other components of the same undertaking);

(ii) the operating results of which are regularly reviewed by the undertaking’s chief operating decision-maker to make decisions about resources to be allocated to the segment and assess its performance;

(iii) for which discrete financial information is available;

(iv) that is taxed separately from other components.

(a) (i) and (ii).

(b) (i) to (iii).

(c) (i) to (iv).