Identifiable assets for the 4 industry segments of Brittle Company are as follows: $$\begin{array} { l l }
\text { Candy } & \$ 120,000 \
\text { Stix } & \$ 240,000 \
\text { Chips } & \$ 980,000 \
\text { Gum } & \$ 45,000
\end{array}$$ Brittle Company uses IFRS for its external financial reporting. Using only the identifiable assets test, which of the segments are reportable?
A) Under IFRS, all four segments must be reported.
B) Candy, Stix, and Chips only.
C) Chips only.
D) Stix and Chips only.

Question

Identifiable assets for the 4 industry segments of Brittle Company are as follows: $$\begin{array} { l l } 
\text { Candy } & \$ 120,000 \
\text { Stix } & \$ 240,000 \
\text { Chips } & \$ 980,000 \
\text { Gum } & \$ 45,000
\end{array}$$ Brittle Company uses IFRS for its external financial reporting. Using only the identifiable assets test, which of the segments are reportable?
A) Under IFRS, all four segments must be reported.
B) Candy, Stix, and Chips only.
C) Chips only.
D) Stix and Chips only.

Quizplus · Accepted Answer

The Answer of Identifiable assets for the 4 industry segments of Brittle Company are as follows: $$\begin{array} { l l } 
\text { Candy } & \$ 120,000 \
\text { Stix } & \$ 240,000 \
\text { Chips } & \$ 980,000 \
\text { Gum } & \$ 45,000
\end{array}$$ Brittle Company uses IFRS for its external financial reporting. Using only the identifiable assets test, which of the segments are reportable?
A) Under IFRS, all four segments must be reported.
B) Candy, Stix, and Chips only.
C) Chips only.
D) Stix and Chips only.

Identifiable Assets for the 4 Industry Segments of Brittle Company