For general purpose external financial reporting, component unit information
a. is not presented.
b. is included in the government-wide statements only.
c. is included in the fund financial statements only.
d. is included in both the government-wide and the fund financial statements.
Question 2
When goods are bought under the perpetual inventory system, Merchandise Inventory is credited.
a. True
b. False
Indicate whether the statement is true or false