Explain the five criteria a group should fulfill to qualify as a true consumer segment
What will be an ideal response?
A consumer segment is a meaningful and distinct group of consumers. A segment should be a homogeneous set. The segment should also be different from other segments and be large enough to have critical mass. Individuals in the segment should have core similarities of attitude, behavior, and economics. Finally, the group should be robust and replicable over time.
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Susqua, Inc. has held-to-maturity debt securities it purchased in 2018. At December 31, 2019, Susqua, Inc. reported a $120,000 impairment loss related to these securities. During 2020, the debtor was successful in registering a new patent which improved the debtor's operating outlook. This change of events resulted in a reversal of $45,000 of the impairment loss. At December 31, 2020, the fair value of the debt securities had increased by $68,000 over the impaired value previously recorded. Susqua, Inc. uses IFRS for its external reporting. How much, if any, of this reversal can Susqua, Inc. report in its income for 2020?
A. $120,000. B. $68,000. C. $45,000. D. $ - 0 -
Every business transaction is recorded by a debit to a balance sheet account and a credit to an income statement account
a. True b. False Indicate whether the statement is true or false
Apparel retailers mostly utilize gondola fixtures.
Answer the following statement true (T) or false (F)
When an auditor lacks independence with respect to a client, which of the following should the auditor issue?
a. A disclaimer of opinion. b. An adverse opinion. c. A qualified opinion with explanatory paragraph. d. An unqualified opinion.