FASB has specified a "75% percent consolidated revenue test".
Required:
a)What is the 75% test?
b)How is the 75% test impacted by the "10% Significance Rule"?

Name: FASB has specified a "75% percent consolidated revenue test". Required: a)What is the 75% test? b)How is the 75% test impacted by the "10% Significance Rule"?
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The Answer of FASB has specified a "75% percent consolidated revenue test".
Required:
a)What is the 75% test?
b)How is the 75% test impacted by the "10% Significance Rule"?

FASB Has Specified a "75% Percent Consolidated Revenue Test