Question: If a blended component unit is reported as an enterprise fund, its financial statements will be reported in both the proprietary fund financial statements as

  1. If a blended component unit is reported as an enterprise fund, its financial statements will be reported in both the proprietary fund financial statements as well as in the business-type activities column on the government-wide financial statements of the primary government.

 

  1. Similar to the letter of transmittal found in a CAFR, the auditor’s opinion is addressed to the citizens residing in the government.

 

  1. If a component unit is reported discretely, its fund financial statements are not reported in the fund financial statements of the primary government.

True/ false

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