ASC 280 requires certain disclosures about major customers. All of the following statements about those disclosures are true with the exception of which statement?

A. For applying the disclosure test, there is no specific threshold (percent of total revenues) that is defined as "significant".
B. The identity of the segment reporting the revenue from a significant customer must be disclosed a footnote.
C. The amount of revenue from a significant customer must be disclosed in a footnote.
D. A local, state, or foreign government can be considered a major customer.


Answer: A

Business

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A. The coordination of individual efforts into a group or organization-wide effort B. The common purpose that unifies employees C. An organizational structure with few or no levels of middle management D. A structure where employees report to no more than one manager E. The arrangement of having discrete parts of a task done by different people

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Coca-Cola earns more than ________ percent of its revenues from outside the United States.

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