Question: Are blended component units reported in the fund financial statements
Are blended component units reported in the fund financial statements that are part of the Basic Financial Statements? Are discretely presented component units reported in those statements?
Relevant QuestionsUnder what circumstances does GASB Statement No. 39 require a primary government to treat an affiliated, tax-exempt organization as a component unit? Would the affiliated organization be blended?Bowles County’s fund structure is as follows:General FundThree Special Revenue FundsOne Capital Projects FundTwo Debt Service FundsThree Internal Service FundsFive Enterprise FundsAssume that Special Revenue Fund #1, the ...Indicate in which section of the CAFR the following items would appear using the following key:(I) Introductory, (F) Financial, or (S) Statistical______ Computation of legal debt limit______ Organizational chart______ ...Gifts, contributions, and bequests to VHWOs and ONPOs may be restricted for specified operating or capital outlay purposes. Explain how restricted contributions, gifts, and bequests are accounted for by nongovernment VHWOs ...When should a nongovernment ONPO recognize contributions that are restricted by donors for capital asset acquisitions?
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