Diversified companies are required to report information that includes certain revenue and expense items and assets for each of its segments.

Question

Quizplus · Accepted Answer

This statement is true. According to Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), diversified companies are required to report financial information that includes revenue and expense items and assets for each of its segments. This segment reporting helps investors and analysts to evaluate the performance of each business segment separately.

Diversified Companies Are Required to Report Information That Includes Certain