Sometimes,but Not Always Public Colleges Are Included as Component Units

question 96

True/False

Sometimes,but not always public colleges are included as component units in the state CAFR

---

Definitions:

Guaranteed Payment

A fixed payment made to a partner by a partnership, independent of the partnership's profitability.

Cash Distribution

The payment of earnings, interest, or dividends in cash to shareholders or partners by a corporation, partnership, or other entity.

Liquidating Distribution

A payment made by a corporation to its shareholders during its dissolution, distributing its assets to the owners according to their ownership share.

Basis

The amount paid for an asset, used to determine gain or loss for tax purposes upon sale or other disposition.