Which of the following is true regarding the financial reporting entity of a state or local government?
A) Only a primary government is reported in the government-wide statements.
B) A school district could never be a primary government.
C) Many component units are discretely presented, rather than blended.
D) All of the above are true.

Question

Quizplus · Accepted Answer

Component units are often discretely presented in the financial statements of a primary government to provide a clearer picture of the financial activities and position of the component units separately from the primary government.

Which of the Following Is True Regarding the Financial Reporting