It is unacceptable for a special-purpose government that is a component unit of a general-purpose government to issue its own "stand-alone" financial report.

Question

Quizplus · Accepted Answer

A special-purpose government that is a component unit of a general-purpose government can issue its own "stand-alone" financial report, provided it follows the accounting standards applicable to its operations. This allows for more detailed financial information specific to the component unit's activities.

It Is Unacceptable for a Special-Purpose Government That Is a Component