Which of the following is true regarding component units?
A) Component units may be reported discretely in the government-wide statements or may be blended as a fund in the fund financial statements and thus also included in the government-wide financial statements.
B) Component units could include towns, school districts, counties, and municipalities.
C) Both of the above.
D) Neither of the above.

Question

Quizplus · Accepted Answer

Component units are either blended and included in the financial statements of the primary government or presented in separate column on the government-wide statements using discrete presentation. Towns, school districts, counties, and municipalities would be primary governments.

Which of the Following Is True Regarding Component Units