CAF-6 · Chapter 6 · Question 1 of 15
According to IFRS 8, which of the following is an 'Operating Segment'?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) A component that engages in business activities, whose results are reviewed by the CODM, and for which discrete financial information is available.
Explanation
An operating segment is a component of an entity: (a) that engages in business activities from which it may earn revenues and incur expenses, (b) whose operating results are regularly reviewed by the entity's Chief Operating Decision Maker (CODM), and (c) for which discrete financial information is available.
More IFRS 8 Operating Segments MCQs
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- Q7Which of the following must be disclosed for each reportable segment under IFRS 8?