Which of the following criteria must be met for a public university to report affiliated organizations as component units? I.The university is entitled to access the resources
II)The economic resources are significant to the component
III)The economic resources received or held are almost entirely for the direct benefit of the university
A)I only
B)III only
C)I and III
D)All three criteria

Question

Quizplus · Accepted Answer

All three criteria must be met for a public university to report affiliated organizations as component units. The first criterion (I) is that the university is entitled to access the resources, the second criterion (II) is that the economic resources are significant to the component, and the third criterion (III) is that the economic resources received or held are almost entirely for the direct benefit of the university. Only when all three criteria are met, the affiliated organizations can be reported as component units.

Which of the Following Criteria Must Be Met for a Public