Substantively the Same Governing Body Means That

question 46

Multiple Choice

Substantively the same governing body means that

• A) Virtually the entire governing body of the primary government serves, in an ex officio capacity, as virtually the entire governing body of a component unit.
• B) A voting majority of the component unit governing body is made up of a voting majority of the primary government governing body.
• C) A voting majority of the primary government governing body serves on the component unit governing body.
• D) A voting majority of the component unit governing body also serves on the primary government governing body.

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Definitions:

Geometric Average

The geometric average is a method of calculating the mean that mitigates the impact of extreme values in a data set, commonly used in calculating investment returns.

Historical Record

Documentation or an account of past events, actions, or operations, serving as evidence or information about previous occurrences.

Financial Markets

Platforms where buyers and sellers trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand.

Real Rate Of Return

The annual percentage of profit or loss on an investment adjusted for inflation.