AICPA Exam CPA-Financial Topic 1 Question 95 Discussion

Actual exam question for AICPA's CPA-Financial exam

Question #: 95
Topic #: 1

[All CPA-Financial Questions]

Which of the following types of entities are required to report on business segments?

ANonpublic business enterprises.

BPublicly-traded enterprises.

CNot-for-profit enterprises.

DJoint ventures.

Show Suggested Answer

Suggested Answer: C

Choice 'C' is correct. This affects only the prospective (current and subsequent) periods - not prior periods, not retained earnings.

by Dallas at Aug 22, 2024, 11:05 AM

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Elbert

14 days ago

I don't know, you'd think joint ventures would have to report on their different segments, but I guess public companies are the ones that really have to spill the beans.

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Annelle

15 days ago

Public companies, no doubt. They've got to keep their investors informed, don't they? Can't hide those juicy business details!

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Jose

18 days ago

Definitely not not-for-profit enterprises - they have different reporting requirements. I think it's gotta be publicly-traded companies.

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Teresita

7 days ago

Nonpublic business enterprises are not required to report on business segments.

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Sherly

11 days ago

I agree, publicly-traded companies are required to report on business segments.

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Edison

21 days ago

Hmm, I was leaning towards joint ventures, but now I'm not so sure. This is a tricky one!

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Honey

29 days ago

I'm pretty sure it's publicly-traded enterprises that are required to report on business segments. That seems like the most logical answer to me.

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Lachelle

1 months ago

I'm not sure about that. I think joint ventures might also be required to report on business segments, as they involve multiple entities working together.

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Avery

1 months ago

I agree with Kara. Publicly-traded enterprises have more stakeholders who need detailed information about their business segments.

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Kara

1 months ago

I think publicly-traded enterprises are required to report on business segments.

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