Question: What is the difference between governmental type activities and business type activities and can you give some examples of each? Some entities of governments that

What is the difference between governmental type activities and business type activities and can you give some examples of each? Some entities of governments that may be accounted for separately are known as component units. How is a component unit defined and what options are available for reporting it in the government-wide and fund financial statements? Can you give some examples of component units commonly found in local or state governments

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