The European Union requires the following segment information:
A) sales and profits by line of business only.
B) sales and profits by line of business, but sales only for geographic segments.
C) sales by line of business and geographic area.
D) profits by geographic area but not line of business.

Question

Quizplus · Accepted Answer

The European Union requires segment information on both line of business and geographic area, specifically sales by both. This allows for a more comprehensive understanding of the operations and performance of the company in different markets. The requirement for profits by geographic area is not necessary, as profits can be calculated based on the individual line of business financial statements within each geographic segment.

The European Union Requires the Following Segment Information