ACC 548 Final Exam Answers

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The following study guide may NOT have the same exact questions on your test! However, this study guide WILL help you ace the ACC/548 Final Exam. The guide covers the same topics and will help you gain a deeper understanding of the concepts.

1. Under GASB rules for the financial reporting entity

a. component units are included if the primary government is financially accountable for their operations

are component units of the state government

and discretely presented component units are to be reported in government-wide financial statements but not in fund financial statements

units must be reported in columns (discrete presentation) separate from the funds of a primary...