Options: Component unit Financial reporting entity Financially accountable Joint venture Other stand-alone government Primary government For each

 

Options:

• Component unit
• Financial reporting entity
• Financially accountable
• Joint venture
• Other stand-alone government
• Primary government
   

Transcribed Image Text:

For each of the following definitions, indicate the key term from the list that best matches by placing the appropriate terms. A separate government or agency that is combined for purposes of reporting on the whole entity. The responsibility that exists when a primary government appoints a voting majority of an organization's governing board and it is able to (a) impose its will on the organizations or (b) there is a potential for the organization to provide financial benefits or impose a financial burden on the primary government. A state government, general purpose local government, or special purpose government that is independent of other state or local governments. A legally separate governmental organization that does not have a separately elected government body. Primary government and all related component units. For each of the following definitions, indicate the key term from the list that best matches by placing the appropriate terms. A separate government or agency that is combined for purposes of reporting on the whole entity. The responsibility that exists when a primary government appoints a voting majority of an organization's governing board and it is able to (a) impose its will on the organizations or (b) there is a potential for the organization to provide financial benefits or impose a financial burden on the primary government. A state government, general purpose local government, or special purpose government that is independent of other state or local governments. A legally separate governmental organization that does not have a separately elected government body. Primary government and all related component units.

Answer rating: 100% (QA)

1Answer Component unit Explanation Component unit is a separate government or agency that ... View the full answer