Blended and Discretely Presented Component Units May Issue Separate Financial

question 12

Multiple Choice

Blended and discretely presented component units may issue separate financial statements. Which of the following statements is false related to this provision in GAAP?

• A) If a blended or discretely presented component unit issues separate financial statements, they are not required to be reported as part of the primary government's reporting entity.
• B) GAAP require component units to report any component units they may have as part of their separately issued financial statements.
• C) GAAP do not prevent component units from separately issuing their own financial statements.
• D) The primary government must include any component units in their external financial reporting to comply with GAAP.

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Definitions:

Emotional Intimacy

A deep connection between two people characterized by mutual sharing of feelings, thoughts, and experiences.

Sex Worker

A person who participates in sexual acts for financial gain or other rewards.

Sex Workers

Individuals who offer sexual services in exchange for money, goods, or other benefits.

Physical Expression

The use of body language, gestures, facial expressions, and other physical movements to communicate emotions or intentions.