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Author Question: In which of the following situations would a component unit be required to prepare a CAFR, not just ... (Read 92 times)

Hungry!

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on: Jul 5, 2018
In which of the following situations would a component unit be required to prepare a CAFR, not just the basic financial statements?
 
  A. The primary government prepares a CAFR.
  B. The component unit will be issuing general obligation bonds in the coming year.
  C. The component unit has prepared a CAFR in the past.
  D. There are no situations in GAAP where any entity is required to prepare a CAFR.

Question 2

Accrued expenses are ordinarily reported on the balance sheet as
 a. assets
  b. liabilities
  c. fixed assets
  d. prepaid expenses


cassie_ragen

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Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

b


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