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Q-21-12

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Horngren'S Financial And Managerial Accounting
Found in: Page 1167

Short Answer

Question:What is a business segment? Give some examples.

Answer

A business segment is a separate chain of a business.

See the step by step solution

Step by Step Solution

Step 1: Business segment

A business segment is a separately identifiable chain that extracts revenue from the sale of goods or rendering of services.

Step 2: Examples of a business segment

A business segment is an identifiable part of the firm for which financial information is available. The business segment can be segmented by customer (commercial and residential), geography (domestic and international), Products, etc.

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