What Are the Criteria Outlined in GASB Statement 39

question 87

Essay

What are the criteria outlined in GASB Statement 39:
Determining Whether Certain Organizations Are Component Units for requiring public college foundations to be reported as discretely presented components in the college's financial reports?

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Definitions:

Norm of Reciprocity

A social norm that expects individuals to help those who have helped them, fostering mutual aid and cooperation.

Empathy Gap

The difficulty in understanding or predicting the feelings and needs of others, especially when there is a difference in emotional state or situation.

Prosocial Behavior

Efforts made to assist others, which involve practices like providing help, distributing, making donations, working together, and engaging in voluntary work.

Identical Twins

Twins who are genetically identical, originating from a single fertilized egg that splits into two, resulting in two individuals who share the same DNA.