Under GASB Rules for the Financial Reporting Entity

question 39

Multiple Choice

Under GASB rules for the financial reporting entity:

• A) Component units must be reported in columns discrete presentation separate from the funds of a primary government.
• B) Counties are component units of the State Government.
• C) Blended and discretely presented component units are to be reported in government-wide financial statements but not in fund financial statements.
• D) Component units are included if the primary government is financially accountable for their operations.

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Definitions:

Emerging Adults

Individuals in a transitional phase of development between adolescence and full-fledged adulthood, typically ages 18 to 25, characterized by exploration and self-focus.

Commitment

The state or quality of being dedicated to a cause, activity, or person, often involving a promise or firm decision to be involved.

Prejudiced Attitude

A preconceived opinion that is not based on reason or actual experience, often leading to biased behaviors towards certain groups.

Extreme Sports

Activities perceived as involving a high degree of risk, often involving speed, height, or physical exertion.