Question

The management approach to the definition of segments for financial reporting expects a company to: I. Report disaggregated information on the same organizational basis as used by the company's internal decision makers. II. Report disaggregated information for at least ten segments.

Answer 1

The correct answer is: I. Report disaggregated information on the same organizational basis used by the company's internal decision makers.

What are segments in reports?

They are the financial reports of all departments of an organization, which in publicly traded companies are legally required to be expressed in the financial statements, for greater reliability of information and security for stakeholders.

Therefore, segment reports are a way for a company to express its reliability in the market, in addition to being a tool to aid in decision making.

Find out more about segment reports here:

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