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. The following are key terms in Chapter 9 that relate to the reporting entity:

ID: 2357673 • Letter: #

Question

. The following are key terms in Chapter 9 that relate to the reporting entity: A. Component units B. Financial reporting entity C. Financial accountability D. Joint venture E. Other stand-alone governments F. Primary governments For each of the following definitions, indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition. 1. A separate government or agency that is combined for purposes of reporting on the whole entity. 2. The responsibility that exist when a primary government appoints a voting majority of an organization

Explanation / Answer


A. Component units

A separate government or agency that is combined for purposes of reporting on thewhole entity

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B. Financial reporting entity

5. Primary government and all related units


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C. Financial accountability

he responsibility that exist when a primary government appoints a voting majority of an organization’s governing board and it is able to 1. Impose its will on the organizations or

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D. Joint venture

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E. Other stand-alone governments


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F. Primary governments

government, general purpose local government, or special purpose government that is independent of other state or local governments.

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