Faru Co. identified five industry segments: (1) plastics, (2) metals, (3) lumber, (4) paper, and (5) finance. Each of these segments had been consolidated appropriately by the company in producing its annual financial statements. Information describing each segment is presented below (in thousands).
Prepare the revenue test and determine which of these segments was separately reportable.
Revenues include sales to outside parties, intersegment revenues transfers, and interest income.

Question

Faru Co. identified five industry segments: (1) plastics, (2) metals, (3) lumber, (4) paper, and (5) finance. Each of these segments had been consolidated appropriately by the company in producing its annual financial statements. Information describing each segment is presented below (in thousands).  
Prepare the revenue test and determine which of these segments was separately reportable.
Revenues include sales to outside parties, intersegment revenues transfers, and interest income.

Quizplus · Accepted Answer

The Answer of Faru Co. identified five industry segments: (1) plastics, (2) metals, (3) lumber, (4) paper, and (5) finance. Each of these segments had been consolidated appropriately by the company in producing its annual financial statements. Information describing each segment is presented below (in thousands).  
Prepare the revenue test and determine which of these segments was separately reportable.
Revenues include sales to outside parties, intersegment revenues transfers, and interest income.

Faru Co Identified Five Industry Segments: (1) Plastics, (2) Metals, (3)