Only governmental fund statements include separate columns for discretely presented component units.
Answer the following statement true (T) or false (F)
False
Governmental fund statements include separate columns for each major fund. Any funds not reported separately are aggregated and reported in a single column under the label nonmajor funds. When it is determined that an organization is a component unit and must be included in the financial report of a primary government, it can use one of two methods; blending and discrete presentation. Most commonly, separate columns are used to present component units.
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