Question: ''if a discrete presentation is used for the financial data of a component unit in the statement of net assets of a governmental financial reporting

''if a discrete presentation is used for the financial data of a component unit in the statement of net assets of a governmental financial reporting entity, there is no need for the component unit to issue a separate financial report ''. is this statement true or false? what other method may be allowed to include a component unit's financial information with that of the reporting entity? what are the three categories of funds prescribed by GASB standards and which fund types are included in each? do the three fund categories correspond precisely with the three activity categories described in? if not, how do they differ?

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