Which of the following statements is true of a Special-purpose government?
A) Special-purpose governments that are engaged in more than one governmental-type activities can combine the fund and government-wide financial statements.
B) Special-purpose governments engaged in only one governmental-type activity only have to prepare fund-basis financial statements.
C) GASB Statement 35 indicates that public higher education institutions may choose to report as business-type activities.
D) GASB Statement 39 applies only to public educational institutions.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true of a Special-purpose government?
A) Special-purpose governments that are engaged in more than one governmental-type activities can combine the fund and government-wide financial statements.
B) Special-purpose governments engaged in only one governmental-type activity only have to prepare fund-basis financial statements.
C) GASB Statement 35 indicates that public higher education institutions may choose to report as business-type activities.
D) GASB Statement 39 applies only to public educational institutions.

Which of the Following Statements Is True of a Special-Purpose