Question 7 Carna Ltd is a listed diversified retail company. Its stores are located mainly in Australia. It has three main types of stores: general department stores, liquor stores, and specialist toy stores. Each of these stores has different products, customer types, and distribution processes. In accordance with AASB 8/IFRS 8, Carna Ltd has identified three operating segments: general stores, liquor stores, and toy stores. All three business units earn most of their revenue from external customers. Total The consolidated revenue of Carna Ltd is $400 million.

General Liquor Toy All segments $m $m $m $m

Revenue 250 110 40 400 Segment result (profit) 14 5 3 21 Assets 400 170 75 650

Required: Identify Carna Ltds reportable segments in accordance with AASB 8/IFRS 8. Explain your answer.