One thing that is missing from GAAP-based segment reporting is a breakdown of
A)product and period costs.
B)cost of goods sold and operating costs.
C)variable and fixed costs.
D)gross margin and net income.

Question

Quizplus · Accepted Answer

GAAP-based segment reporting does not require a breakdown of variable and fixed costs. GAAP focuses on presenting financial information that is useful for making economic decisions, including revenues, expenses, and profitability by segment, but it does not mandate the separation of costs into variable and fixed categories within those segments.

One Thing That Is Missing from GAAP-Based Segment Reporting Is