State whether the following statements are true or false. Give reasons for your answers.
1. Company A has three reportable segments.
2. The revenue figure that should be used by the general department stores segment for the purposes of determining whether or not it is a reportable segment is $350 million.
3. Company A must disclose the toy stores segment liabilities after deducting the $45 million owed to general department stores.
4. The assets figure that should be used by the general department stores segment for the purposes of determining whether or not it is a reportable segment is $900 million.
5. The assets figure that should be used by the general department stores segment for the purposes of determining whether or not it is a reportable segment is $855 million.
6. The assets figure that should be used by the general department stores segment for the purposes of determining whether or not it is a reportable segment is $877 million.
7. Company A must disclose a reconciliation of total segment assets to its consolidated assets of $1132m.