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Questions and Answers
What is an operating segment of an entity?
What is an operating segment of an entity?
- A component that only incurs expenses
- A component that only earns revenues
- A component that is reviewed by the entity's chief operating decision maker
- A component that engages in business activities, earns revenues, incurs expenses, and is reviewed by the entity's chief operating decision maker (correct)
What is a reportable segment?
What is a reportable segment?
- A segment that is not reviewed by the entity's chief operating decision maker
- Operating segments or aggregations of operating segments (correct)
- Only aggregations of operating segments
- A segment that is not part of an entity
What should an entity explain about each reportable segment?
What should an entity explain about each reportable segment?
- The measurement of the segment revenues
- The measurement of the segment liabilities
- The measurement of the segment profit or loss
- The measurement of the segment profit or loss and segment liabilities (correct)
What should be reconciled for reportable segments?
What should be reconciled for reportable segments?
What information should be available for an operating segment?
What information should be available for an operating segment?
What is the primary objective of using a valuation technique?
What is the primary objective of using a valuation technique?
Which of the following valuation techniques uses prices and other relevant information from market transactions involving identical or similar assets?
Which of the following valuation techniques uses prices and other relevant information from market transactions involving identical or similar assets?
Which valuation technique requires the amount to replace the service capacity of an asset?
Which valuation technique requires the amount to replace the service capacity of an asset?
Which valuation technique converts future amounts to a single current amount?
Which valuation technique converts future amounts to a single current amount?
What is the purpose of the income approach in valuation techniques?
What is the purpose of the income approach in valuation techniques?
What does the risk inherent in valuation techniques used to measure fair value refer to?
What does the risk inherent in valuation techniques used to measure fair value refer to?
What does a market quote price that differs depending on whether an asset is being sold or bought from the market indicate?
What does a market quote price that differs depending on whether an asset is being sold or bought from the market indicate?
What does the effect of P/L or other comprehensive income for a period of recurring fair value measurements imply?
What does the effect of P/L or other comprehensive income for a period of recurring fair value measurements imply?
What does the acquisition date signify in a business combination?
What does the acquisition date signify in a business combination?
What does positive goodwill represent in a business combination?
What does positive goodwill represent in a business combination?
How is goodwill measured after its initial recognition?
How is goodwill measured after its initial recognition?
When is goodwill tested for impairment?
When is goodwill tested for impairment?
Which standard deals with the Impairment of Assets?
Which standard deals with the Impairment of Assets?
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