The following information is available for 2016 for Morris Company, a worldwide conglomerate (in millions): Japan...

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The following information is available for 2016 for Morris Company, a worldwide conglomerate (in millions): Japan China United States Europe Korea Southeast Asia Other Segment Corporate Consolidated Unaffiliated Sales Intersegment Sales 1800 600 550 400 100 50 20 2,520 2.520 18818 1819 ¥100 50 170 Operating Profit (Loss) ¥300 200 (50) 100 (20) 10 5 545 (60) 485 Assets ¥1,000 800 650 600 300 100 80 3,530 150 ¥3,680 Required: a) Which segments are reportable segments under (a) the revenue test, (b) the operating profit test, and (c) the asset test? b) Do additional reportable segments have to be identified? The following information is available for 2016 for Morris Company, a worldwide conglomerate (in millions): Japan China United States Europe Korea Southeast Asia Other Segment Corporate Consolidated Unaffiliated Sales Intersegment Sales 1800 600 550 400 100 50 20 2,520 2.520 18818 1819 ¥100 50 170 Operating Profit (Loss) ¥300 200 (50) 100 (20) 10 5 545 (60) 485 Assets ¥1,000 800 650 600 300 100 80 3,530 150 ¥3,680 Required: a) Which segments are reportable segments under (a) the revenue test, (b) the operating profit test, and (c) the asset test? b) Do additional reportable segments have to be identified?

Answer rating: 100% (QA)

An Operating Segment should be reported based on meeting any one of the following criteria 1 The rev... View the full answer