Which of the Following Is True Regarding GASB's Definition of the Financial

question 127

Multiple Choice

Which of the following is true regarding GASB's definition of the financial reporting entity?

• A) The financial reporting entity might include a primary government, component units, joint ventures, or a jointly governed organization.
• B) Primary governments may be general-purpose governments such as states, cities, and countiesor special-purpose governments that have separately elected governing bodies, are legally separate and are fiscally independent of other state or local governments.
• C) Blending is used to incorporate component units when those component units are, in substance, part of the primary government.
• D) All of the above are true.

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Definitions:

Environmental Contributions

The influences from one's surroundings that affect development, behavior, or conditions, including social, physical, and cultural factors.

Twin Studies

A research method used in psychology and genetics to determine the contribution of genetics versus environment on human development, behavior, and health by comparing monozygotic (identical) and dizygotic (fraternal) twins.

Monozygotic Twins

Identical twins that develop from a single fertilized egg and share the same genetic material.

Dizygotic Twins

also known as fraternal twins, are siblings that develop from two different eggs fertilized by two different sperm cells, sharing about 50% of their DNA.