Which of the following is not an indicator of a reporting entity under SAC 1?
A) The entity receives government grants.
B) The entity is politically or economically important.
C) The entity is managed by individuals who are not owners of the entity.
D) The entity is considered large in terms of sales, assets, borrowings, employees and customers.

Question

Quizplus · Accepted Answer

Three indicators of a reporting entity under SAC 1 are: 1) if the entity is managed by individuals who are not owners; 2) if the entity is politically or economically important; and 3) if the entity is considered large in terms of assets, sales, borrowing, employees and customers.

Which of the Following Is Not an Indicator of a Reporting