Which of the following circumstances would indicate that a potential component unit (PCU) should be included as part of the government financial reporting entity?
A. The primary government significantly influences the programs and activities of the PCU.
B. Officials of the primary government appoint a majority of the members of the PCU's governing board and the primary government is able to impose its will on the PCU.
C. The primary government is entitled to the resources of the PCU.
D. Officials of the primary government appoint a majority of the members of the governing board of the PCU.
Answer: B
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Which of the following would most likely be classified as a current liability?
a. two-year notes payable b. bonds payable c. mortgage payable d. unearned rent
The equity method of accounting for an investment in the common stock of another company should be used when the investment
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By working with local groups to identify the ways in which technology can be used to solve problems, HP has worked to bring the benefits of technology to the world's poor in developing countries such as:
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Which of the following exemplifies a good practice when writing a letter extending credit??
A) ?Davis writes his letter using an inductive sequence. B) ?Amar emphasizes the acknowledgment of the order more than the credit aspect. C) ?Megha includes sales promotional material in her letter. D) ?Tim avoids indicating the basis for the decision to extend credit.