Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company has a total revenue of $1,000,000, profits of $90,000, total assets of $10,000,000, and total liabilities of $5,000,000. Operating segment Sun has revenues
A company has a total revenue of $1,000,000, profits of $90,000, total assets of $10,000,000, and total liabilities of $5,000,000. Operating segment Sun has revenues of $95,000, profit of $10,000, assets of $900,000, and liabilities of $550,000. Which of the following tests makes Sun a reportable segment?
A. Revenue test.
B. Profit test.
C. Asset test.
D. Liability test.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started