Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Chapter 8, Problem 23P
To determine
Identify the statement which is not true with respect to the profit or loss test.
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Students have asked these similar questions
Howard Corporation has six different operating segments reporting the following operating profit and loss figures:With respect to the profit or loss test, which of the following statements is not true?a. A is a reportable segment based on this one test.b. C is not a reportable segment based on this one test.c. E is not a reportable segment based on this one test.d. F is a reportable segment based on this one test.
B Incorporated provided the following data with respect to their segments:
Segment
Revenues
Profit/Loss
Identifiable Assets
A
40 million
3 million
80 million
B
20 million
4 million
70 million
C
15 million
(5 million)
60 million
D
50 million
(1 million)
100 million
E
5 million
(300,000)
30 million
F
8 million
(1.3 million)
20 million
Total
138 million
(600,000)
360 million
Using the profit/loss test, what is the minimum amount of profit/loss for a segment to be considered as reportable:
a.
700,000
b.
60,000
c.
600,000
d.
820,000
e.
Answer not among the
23. Howard Corporation has six different operating segments reporting the following operating profit and loss figures:
A $ 80,000 profit D $440,000 loss
B 140,000 loss E 50,000 profit
C 100,000 profit F 170,000 profit
With respect to the profit or loss test, which of the following statements is not true?
a. A is a reportable segment based on this one test.
b. C is not a reportable segment based on this one test.
c. E is not a reportable segment based on this one test.
d.F is a reportable segment based on this one test.
Chapter 8 Solutions
Advanced Accounting
Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - Prob. 11QCh. 8 - To satisfy geographic area disclosure...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - Prob. 16QCh. 8 - Prob. 17QCh. 8 - How does a company determine the amount of income...Ch. 8 - Prob. 19QCh. 8 - Prob. 20QCh. 8 - What type of segment information must companies...Ch. 8 - How would an annual bonus paid at year-end be...Ch. 8 - Which of the following does U.S. GAAP not consider...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Which of the following is not necessarily true for...Ch. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Which of the following items is required to be...Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Which of the following information items with...Ch. 8 - Prob. 14PCh. 8 - In considering interim financial reporting, how...Ch. 8 - How should material seasonal variations in revenue...Ch. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Niceville Company pays property taxes of 100,000...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Noventis Corporation prepared the following...
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