Which of the following is evidence of fiscal independence for the purpose of con

Question

Which of the following is evidence of fiscal independence for the purpose of considering whether one legally separate organization is a component unit of another? A. The potential component unit is precluded from issuing long-term debt. B. The potential component unit raises taxes without the approval of the primary government. C. The budget of the potential component unit must be approved by the primary government. D. The board or council of the potential component unit includes members of the primary government's management team.

Explanation / Answer

B. The potential component unit raises taxes without the approval of the primary government.

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