REFERENCE: Ref.08_11
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).
In addition,Faru Co.had $1,625,000 in common expenses that are not allocated to the various segments.
-Prepare the asset test to determine which of these segments was separately reportable.

Question

REFERENCE: Ref.08_11
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).
  In addition,Faru Co.had $1,625,000 in common expenses that are not allocated to the various segments.
-Prepare the asset test to determine which of these segments was separately reportable.

Quizplus · Accepted Answer

The Answer of REFERENCE: Ref.08_11
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).
  In addition,Faru Co.had $1,625,000 in common expenses that are not allocated to the various segments.
-Prepare the asset test to determine which of these segments was separately reportable.

REFERENCE: Ref.08_11 Faru Co.identified Five Industry Segments: (1)plastics, (2)metals, (3)lumber, (4)paper,and (5)finance.Each