Assorted questions regarding segmental reporting. You are presenting segmental information regarding your company to the finance committee of the board of directors and have been asked the following questions. Provide your response to each of the following questions:
1. How is it possible that the distribution of wine and spirits have been combined with the distribution of personal care products to constitute a single operating segment?
2. Why don’t the third-quarter revenues traceable to reportable segments agree with the thirdquarter revenues shown in the consolidated income statement?
3. From a competitive standpoint, would it be better to show more or fewer segments on our financial statements?
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