Business

Cynthia Dunn

11 July, 11:37

The GASB defines a financial reporting entity as the primary government and the entities for which the primary government is financially accountable.

Required:

Following is a list of entities being considered for classification as primary governments, for each of the entities listed indicate Yes if the entity would be considered a primary government and No if it would not be considered a primary government.

1. Waseca County government.

a. Yes

b. No

2. University of South Florida, a part of the State University System of Florida

a. Yes

b. No

3. The Tri-County Independent School District, a legal entity, with an elected board and financial Independence.

a. Yes

b. No

4. The State of Colorado.

a. Yes

b. No

5. Greenfeild Sports Authority, a joint venture between Greenfield County and Mighty Ducks Sports franchise.

a. Yes

b. No