How should component units be displayed in government-wide financial statements?
a. Component units should not be reported in government-wide financial statements
b. All component units should be included either in the column for governmental activities or in the column for business-type activities
c. Component units should be blended where appropriate; discretely presented component units should be reported in a separate column
d. All component units should be included with other business-type activities
Question 2
The 10-column work sheet is used to facilitate the preparation of the income statement, the statement of owner's equity, and the balance sheet.
a. True
b. False
Indicate whether the statement is true or false
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