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Which of the following is true regarding GASB's definition of the financial reporting entity?
a. The financial reporting entity might include a primary government, component units, joint ventures, or a jointly governed organization
b. Primary governments may be general-purpose governments (such as states, cities, and counties) or special-purpose governments that have separately elected governing bodies, are legally separate and are fiscally independent of other state or local governments.
c. Blending is used to incorporate component units when those component units are, in substance, part of the primary government
d. All of the above are true
e. None of the above are true

Respuesta :

sandlee09

Answer:

d. All of the above are true

Explanation:

According to my research on the GASB's definition of the financial reporting entity, I can say that based on the information provided by the GASB website, all of the above statements provided are true. They can consists of many components such as joint ventures or jointly governed organizations, governments can be general purpose governments or special-purpose governments, and Blending is used.

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