If a primary government has an equity interest in a joint venture, the net investment (total equity interest) is reported as

Question

Quizplus · Accepted Answer

If a primary government has an equity interest in a joint venture, the net investment (total equity interest) is reported as an asset of either governmental or business-type activities, as appropriate, in the government-wide statement of net position because joint ventures are considered to be separate entities in which the primary government has an investment.

If a Primary Government Has an Equity Interest in a Joint