江西财经大学高级务会计国际学院题库chapter_15.docVIP

Advanced Accounting, 11e (Beams/Anthony/Bettinghaus/Smith) Chapter 15 Segment and Interim Financial Reporting Multiple Choice Questions 1) Similar operating segments may be combined if the segments have similar economic characteristics. Which one of the following is a similar economic characteristic under GAAP? A) The segments management teams B) The tax reporting law sections C) The distribution method for products or services D) The expected rates of return and risk for the segments productive assets Answer: C Objective: LO2 Difficulty: Easy 2) Which of the following conditions would not indicate that two business segments should be classified as a single operating segment? A) They have similar amounts of intersegment revenues or expenses. B) They have a similar distribution method for products. C) They have similar production processes. D) They have similar products or services. Answer: A Objective: LO2 Difficulty: Easy 3) GAAP requires that segment information be reported A) by geographics, without regard to size of the segment. B) by geographics, without regard to industry or product-line. C) however management organizes the enterprise into units for internal decision-making and performance-evaluation purposes. D) by industry or product-line, without regard to geographics. Answer: C Objective: LO1 Difficulty: Easy 4) GAAP requires disclosures for each reportable operating segment for each of the following, except for A) Revenues. B) Depreciation expense. C) RD expenditures. D) Extraordinary items. Answer: C Objective: LO4 Difficulty: Easy 5) What is the threshold for reporting a major customer? A) 5 percent of revenues B) 5 percent of profits C) 10 percent of revenues D) 10 percent of profits Answer: C Objective: LO6 Difficulty: Easy 6) Cole Company has the following 2011 financial data: Consolidated revenue per income statement $800,000 Intersegment sales 200,000 Intersegment transfers 100,000 Combined revenues of all segments $1,