Which of the following must be reported by diversified companies for each of their operating segments?
A)Segment profit or loss,expenses,and earnings per share
B)Segment profit or loss,certain revenue and expense items,and segment assets
C)Assets,liabilities,and earnings per share
D)Segment profit or loss,expenses,and unidentifiable assets

Question

Quizplus · Accepted Answer

According to accounting standards, diversified companies must report segment profit or loss, certain revenue and expense items (such as revenues from external customers, intersegment revenues, and expenses incurred both directly and indirectly), and segment assets for each of their operating segments. Option A is a close choice, but it doesn't include segment assets which are also required to report. Option C and D are incorrect as they don't cover all the required aspects of segment reporting.

Which of the Following Must Be Reported by Diversified Companies