To Be Reported as a Major Component Unit, a Component

question 24

True/False

To be reported as a major component unit, a component unit must meet the same 10 percent and 5 percent size requirements as major funds.

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Definitions:

Supremacy Clause

The provision in Article VI of the U.S. Constitution that declares the Constitution, laws, and treaties of the United States "the supreme Law of the Land."

Article VI

A section of the United States Constitution that establishes the Constitution, federal statutes, and treaties as the supreme law of the land, overriding state laws.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource.

Average Product

Output per unit of a particular input.