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Which statements is correct about competitor company

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Reference no: EM132757009

Problem 1: An entity recently has acquired a new brand from competitor company. The brand qualifies as a component of an entity and represents as a major line of business for which discrete financial information is available. This operating segment does not meet any of the threshold criteria for a reportable segment. Furthermore, this segment is unique and does not share similar characteristics with the other operating segment of the entity. Which of the following statements is correct?

a) The entity can disclose this new segment separately if it is a distinguishable component and is used by
management in internal reporting even though it does not meet the PFRS criteria.

b) The entity cannot voluntarily disclose this new segment separately because PFRS #8 discourages voluntary
disclosure of operating segments. Operating segments are reportable only if they either result from
aggregation or quality under any of the quantitative thresholds.

c) The entity can disclose this new segment separately only if it can be aggregated with another operating
segment and the combined segment qualifies in all of the quantitative thresholds.

d) The entity can disclose this new segment separately only if it can be aggregated with another operating segment and the combined segment qualifies in any of the quantitative thresholds.

 

Reference no: EM132757009

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