B is corrent. ASC Topic 280 requires that selected data for a segment be reported separately if any one of three criteria is met. One of these criteria is met when a segment’s operating profit (loss) is greater than or equal to 10% of the greater of the absolute combined segment profit or loss. Thus, Klein has a reportable segment if the absolute amount of that segment’s profit or loss exceeds $60,000 ($600,000 x 10%).
A is incorrect. ASC Topic 280 requires that selected data for a segment be reported separately if any one of three criteria is met. One of these criteria is met when a segment’s operating profit (loss) is greater than or equal to 10% of the greater of the absolute combined segment profit or loss. Thus, Klein has a reportable segment if the absolute amount of that segment’s profit or loss exceeds $60,000 ($600,000 x 10%).
Cis incorrect. ASC Topic 280 requires that selected data for a segment be reported separately if any one of three criteria is met. One of these criteria is met when a segment’s operating profit (loss) is greater than or equal to 10% of the greater of the absolute combined segment profit or loss. Thus, Klein has a reportable segment if the absolute amount of that segment’s profit or loss exceeds $60,000 ($600,000 x 10%).
D is incorrect. ASC Topic 280 requires that selected data for a segment be reported separately if any one of three criteria is met. One of these criteria is met when a segment’s operating profit (loss) is greater than or equal to 10% of the greater of the absolute combined segment profit or loss. Thus, Klein has a reportable segment if the absolute amount of that segment’s profit or loss exceeds $60,000 ($600,000 x 10%).
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