Which one of the following is a criterion for identifying a primary government?
A) it has an appointed board of directors.
B) it is fiscally dependent.
C) it is a local government.
D) it has a separately elected governing body.
E) it must prepare financial statements.

Question

Quizplus · Accepted Answer

A separately elected governing body is a key criterion for identifying a primary government, as opposed to a component unit (such as a school district or state agency) that is governed by a larger primary government. The other options may apply to some primary governments, but are not defining criteria.

Which One of the Following Is a Criterion for Identifying