Question: 1. An operating segment is a reporting segment if it passes the revenue test of 10% or more of combined revenues. the profit test of

1. An operating segment is a reporting segment if it passes

the revenue test of 10% or more of combined revenues.

the profit test of 10% or more of combined profits.

the asset test of 10% or more of combined assets.

any one of these tests.

2. Which of the following is true of the financial reporting of a company with subsidiaries or reportable segments?

The company must prepare consolidated statements.

The company must provide disaggregated information about its operating segments.

The company must show reconciliations of total revenues, total profit or loss, and total assets of reportable segments to corresponding consolidated totals.

all of these choices are true.

3. The SEC requires registrants to file interim reports on a

weekly basis.

monthly basis.

quarterly basis.

annual basis.

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