Match the items in the left-hand column with the descriptions/explanations in the right-hand column. Items 3. 1.
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Match the items in the left-hand column with the descriptions/explanations in the right-hand column.
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Items 3. 1. Reportable operating segment 2. 10 percent significance rules. Revenue test for material A. B. Not computed until tax is paid. foreign country disclosure Descriptions/Explanations Based on all assets used by management to assess that business unit' s performance. C. Includes intercorporate sales and transfers. 1. Asset test for reportable D. Annual statutory tax rate. operating segments E. Based on long-lived assets used in that business unit only. 5. Asset test for material foreign country disclosure F. Values cost of goods sold at the LIFO cost of the goods sold. 5. Comprehensive segment G. Values cost of goods sold at the expected replacement cost. disclosure test H. 7. Enterprisewide disclosures Requires sales to unaffiliated units for separately disclosed segments to be higher than or equal to 75 percent of total consolidated for interim inventory 3. Recovery of prior write-down valuations revenue. I. Segment that must meet each of the three 10 percent segment significance tests. 9. Interim LIFO liquidations to be J. Product revenues, geographic areas, and information about major replaced by year-end. customers. ). Effective annual tax rate K. Recovery allowed by ASC 270 and/or ASC 740. L. Based on sales to unaffiliated entities only. M. Not permitted under ASC 270 and/or ASC 740. N. Estimate of the income tax rate that will actually be paid for the year. 0. Segment that has met at least one of the three 10 percent segment significance tests.
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Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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