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aimtobeacpa
Major Contributor

Joined: 10 Dec 2009
Online Status: Offline
Posts: 657

Posted: 29 Jul 2010 at 01:26 \| IP Logged

why is it false?

The Garden City Foundation is a legally separate nonprofit organization established to provide resources to improve and maintain the landscaping around public buildings in Garden City. The Foundation's resources are used only for this purpose and provide for substantial improvement in the appearance of the buildings, although the actual dollar value of the assistance is insignificant to the City. The Garden City Foundation should be included in Garden City's financial statements as a component unit.

	True
	False

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BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79

caixinran
Regular
Regular

Joined: 10 Jun 2009
Online Status: Offline
Posts: 159

Posted: 29 Jul 2010 at 15:39 \| IP Logged

Component unit - "SELF" Stand criteria

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REG - July 21, 2009 - 94
BEC - Nov. 03, 2009 - 90
FAR - Aug. 07, 2010 - 96
AUD - Nov, 23, 2010 - 87

aimtobeacpa
Major Contributor

Joined: 10 Dec 2009
Online Status: Offline
Posts: 657

Posted: 29 Jul 2010 at 16:52 \| IP Logged

i didnt get you...

is should be blended?

__________________
BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79

1tryCPA
Major Contributor

Joined: 27 Jun 2010
Online Status: Offline
Posts: 337

Posted: 29 Jul 2010 at 19:35 \| IP Logged

Component unit should be fiscally dependent on the primary government. I think, by the information in the question, it does not seem this way.

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FAR - 07/09/10 - {95}
AUD - 10/02/10 - {96}
BEC - 11/29/10 - {92}
REG - 05/23/11 - {75 would be enough}90 unbelievable, and I AM DONE!!!
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