Osprin Corporation has three operating segments, as summarized below:
Required:
1. Using the revenue test, what is the minimum amount of revenue of a reportable segment?
2. Using the operating profit or loss test, what is the minimum amount of operating profit or loss of a reportable segment?
3. Using the asset test, what is the minimum amount of assets of a reportable segment?
4. Based on the three tests, which segments will be separately reported?

Question

Osprin Corporation has three operating segments, as summarized below:
  Required:
1. Using the revenue test, what is the minimum amount of revenue of a reportable segment?
2. Using the operating profit or loss test, what is the minimum amount of operating profit or loss of a reportable segment?
3. Using the asset test, what is the minimum amount of assets of a reportable segment?
4. Based on the three tests, which segments will be separately reported?

Quizplus · Accepted Answer

The Answer of Osprin Corporation has three operating segments, as summarized below:
  Required:
1. Using the revenue test, what is the minimum amount of revenue of a reportable segment?
2. Using the operating profit or loss test, what is the minimum amount of operating profit or loss of a reportable segment?
3. Using the asset test, what is the minimum amount of assets of a reportable segment?
4. Based on the three tests, which segments will be separately reported?

Osprin Corporation Has Three Operating Segments, as Summarized Below