An organization is a component unit of a primary government and hence part of the primary government's financial reporting entity, provided that:
a. the primary government provides grants to the organization
b. the primary government sells tax-exempt debt on behalf of the organization
c. the primary government is financially accountable for the organization
d. the primary government makes appropriations to the organization
Question 2
The controlling account in the general ledger that summarizes the individual customer accounts in the subsidiaryledger is entitled
a. Purchases
b. Accounts Payable
c. Fees Earned
d. Accounts Receivable