_____ Which of the following mandatory or voluntarily disclosed segment items need not be reconciled to the corresponding consolidated amount?
A) Segment cash flows from operations.
B) Segment interest income.
C) Segment fixed assets.
D) Extraordinary items.
E) None of the above.

Question

Quizplus · Accepted Answer

Under both IFRS and US GAAP, all segment items that are reported must be reconcilable to the entity's consolidated amounts, except for extraordinary items, as these are not recognized in the financial statements following the removal of the concept from both IFRS and US GAAP. However, since the question implies a need for reconciliation except for one, and extraordinary items are no longer recognized, all listed items would typically need to be reconciled, making E the correct choice by default.

_____ Which of the Following Mandatory or Voluntarily Disclosed Segment