This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Blended and discretely presented component units may issue separate financial statements. Which of ... (Read 87 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jul 5, 2018
Blended and discretely presented component units may issue separate financial statements. Which of the following statements is false related to this provision in GAAP?
 
  A. If a blended or discretely presented component unit issues separate financial statements, they are not required to be reported as part of the primary government's reporting entity.
  B. GAAP require component units to report any component units they may have as part of their separately issued financial statements.
  C. GAAP do not prevent component units from separately issuing their own financial statements.
  D. The primary government must include any component units in their external financial reporting to comply with GAAP.

Question 2

The unearned rent account has a balance of 72,000 . If 18,000 of the 72,000 is unearned at the end of the accounting period, the amount of the adjusting entry is
 a. 18,000
  b. 90,000
  c. 54,000
  d. 36,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Koolkid240

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

c


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da
During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage, During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage,
Another early evolutionary example of immunity When a red sponge and a blue sponge are blended ... Another early evolutionary example of immunity When a red sponge and a blue sponge are blended ...
Separate the metatarsals. Create space between the metatarsals by holding onto the sides of the foot ... Separate the metatarsals. Create space between the metatarsals by holding onto the sides of the foot ...
Examples of Mission Statements Examples of Mission Statements
Cells are the basic units of life Cells are the basic units of life
Video: HDL (high density lipoprotein)

For a complete list of videos, visit our video library