Answered: What is the difference of segment…

What is the difference of segment reporting and operating segments? Are they interrelated? Please explain in simple term.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter8: Tactical Decision-making And Relevant Analysis

Section: Chapter Questions

Problem 10MCQ

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According to the FASB, what is the major objective of segment reporting?
For segment reporting purposes, what amounts are reported by each operating segment?
explain the requirements for segment reporting, and calculate and interpret segmentratios;
Which of the following is true about the 10% test? The 10% test is used to determine which segments can be combined. The 10% test is used to determine reportable segments. The 10% test can only be used if the entity has vertical integration. The 10% test is used to determine identifiable segments.
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