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The Following Information Was Collected Together for the Lawson Company

Question 22

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The following information was collected together for the Lawson Company relating to the preparation of their annual financial statements for 2011.For each item,indicate "True" or "False" as to whether the item must be disclosed in the annual report.

Premises:

Responses:

Names of major customers for all reportable segments

True

Revenue from external customers for all reportable segments

False

The basis for aggregating any operating segments to arrive at reporting segments

Total assets for all reportable segments

Extraordinary items for all reportable segments

Income tax expense (or benefit) for all reportable segments

Cost of Goods Sold for all reportable segments

Type of product or service for all reportable segments

Depreciation expense and amortization expense for all reportable segments

Interest revenue and expense for all reportable segments

Premises:

Names of major customers for all reportable segments

Revenue from external customers for all reportable segments

The basis for aggregating any operating segments to arrive at reporting segments

Total assets for all reportable segments

Extraordinary items for all reportable segments

Income tax expense (or benefit) for all reportable segments

Cost of Goods Sold for all reportable segments

Type of product or service for all reportable segments

Depreciation expense and amortization expense for all reportable segments

Interest revenue and expense for all reportable segments

Responses:

True

False

Correct Answer:

Premises:

Responses:

Names of major customers for all reportable segments

Revenue from external customers for all reportable segments

The basis for aggregating any operating segments to arrive at reporting segments

Total assets for all reportable segments

Extraordinary items for all reportable segments

Income tax expense (or benefit) for all reportable segments

Cost of Goods Sold for all reportable segments

Type of product or service for all reportable segments

Depreciation expense and amortization expense for all reportable segments

Interest revenue and expense for all reportable segments

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