The GASB defines a financial reporting entity as the primary government and the

Question

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

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 Yes/No?

2. University of South Florida, a part of the State University System of Florida Yes/No?

3. The Tri-County Independent School District, a legal entity, with an elected board and financial Independence. Yes/No?

4. The State of Colorado. Yes/No?

5. Greenfeild Sports Authority, a joint venture between Greenfield County and Mighty Ducks Sports franchise. Yes/NO?

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

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 Yes/No?

2. University of South Florida, a part of the State University System of Florida Yes/No?

3. The Tri-County Independent School District, a legal entity, with an elected board and financial Independence. Yes/No?

4. The State of Colorado. Yes/No?

5. Greenfeild Sports Authority, a joint venture between Greenfield County and Mighty Ducks Sports franchise. Yes/NO?

Explanation / Answer

1. Yes

2. No

3. Yes

4. Yes

5. No

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