ent must be both legally separate and fiscally independent. B. A primary government, although legally separate, may be fiscally dependent upon another governmental entity. C. Although a primary government

ent must be both legally separate and fiscally independent. B. A primary government, although legally separate, may be fiscally dependent upon another governmental entity. C. Although a primary government

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 9MC: A governmental agency can best be described by which of the following statements? A. has a primary...

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Which of the following best describes a “primary government”?

Select one:

A. A primary government must be both legally separate and fiscally independent.

B. A primary government, although legally separate, may be fiscally dependent upon another governmental entity.

C. Although a primary government has a separately elected governing body, it may not be a legally separate entity.

D. The only requirement is for a primary government to have a separately elected governing body; It does not have to be either legally separate or fiscally independent.

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