ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
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Question
Chapter 9, Problem 17.6EP
To determine
Identify the term that describes a primary government.
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Students have asked these similar questions
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.
Explain the makeup of a primary government and its relationship to component units and related organizations as well as the combination of governments.
Which of the following is necessary for a special purpose local government to be viewed as a primary government for reporting purposes?
It must have a separately elected governing body.
It must have specifically defined geographic boundaries.
It must be fiscally independent.
It must have corporate powers to prove that it is legally independent.
Chapter 9 Solutions
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - What is a component unit?Ch. 9 - Explain the difference between a blended and a...Ch. 9 - Prob. 6QCh. 9 - Prob. 7QCh. 9 - Prob. 8QCh. 9 - Give examples of items (transactions) that would...Ch. 9 - Prob. 10Q
Ch. 9 - Prob. 11QCh. 9 - Prob. 12CCh. 9 - The MDA for the 2016 City and County of Denver...Ch. 9 - Prob. 14CCh. 9 - Prob. 17.1EPCh. 9 - Prob. 17.2EPCh. 9 - Prob. 17.3EPCh. 9 - Interim government financial reports a. Are not...Ch. 9 - The comprehensive annual financial report (CAFR)...Ch. 9 - Prob. 17.6EPCh. 9 - The city council of Lake Jefferson wants to...Ch. 9 - Prob. 17.8EPCh. 9 - Prob. 17.9EPCh. 9 - Prob. 17.10EPCh. 9 - A positive unassigned fund balance can be found in...Ch. 9 - A city established a special revenue fund for gas...Ch. 9 - The county commission passed into law through an...Ch. 9 - Prob. 17.14EPCh. 9 - Prob. 17.15EPCh. 9 - Prob. 18EPCh. 9 - Prob. 19EPCh. 9 - The City of Lynnwood was recently incorporated and...Ch. 9 - Prob. 21EPCh. 9 - Prob. 22EPCh. 9 - Prob. 23EPCh. 9 - Prob. 24EPCh. 9 - You have recently started working as the...Ch. 9 - Prob. 26EPCh. 9 - Prob. 27EP
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Similar questions
- Which of the following is not an inherent power of a government? A. Eminent Domain B. Police Power C. Taxation D. People Powerarrow_forwardWhat are the basic financial statements that a state or local government now produces?arrow_forward1A. Why have accountability and control been so important in the traditional accounting for state and local governments? 1B. How has the dual system of financial statements impacted the financial reporting of state and local governements?arrow_forward
- 2) Explain the governmental Units , business type and fiduciary type with example?arrow_forward2) Briefly describe the service type activities that most general purpose governments perform?arrow_forwardGovernmental Administrative Agencies are established by the branch. The branch and implemented by the branch is responsible for ensuring that the formation and implementation of the Administrative Agency is constitutional. O a. Executive, Legislative, Judicial O b. Judicial, Executive, Legislative O c. Executive, Judicial, Legislative O d. Legislative, Executive, Judicialarrow_forward
- Define a financial reporting entity. Give an example of a primary government. Define and give an example of a component unit. Explain the two methods of reporting the primary government and component units in the financial reporting entity and when each is required.arrow_forwardDifferentiate between the two sets of financial statements produced by state and local governments.arrow_forwardUnder what circumstances does GASB Statement No. 39 require a primary government to treat an affiliated, tax-exempt organization as a component unit? Would the affiliated organization be blended? Explain.arrow_forward
- Are the officers of the Local Government Unit internal or external users?why? Differentiate internal users from external users of accounting information?arrow_forwardWhich of the following has the least amount of official authority for the financial reporting of state and local governments? Choose the correct.a. GASB Technical Bulletins.b. GASB Statements of Governmental Accounting Standards.c. GASB Concepts Statements.d. GASB Implementation Guides.arrow_forwardWhat are the features of good government accounting?arrow_forward
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