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Chapter 11

Granof-5e

Chapter 11

Granof-5e

Other Types of Units

Joint Ventures:

A contractual agreement to carry out a common activity, with the participants sharing both risks and rewards.

Ex: Dallas and Fort Worth joining together to construct and operate an airport.

Related Organizations: defined by GASB Stmt. #14    as an entity that

Satisfies only the financial accountability criterion and not the other two criteria.

Do not qualify as a component unit

Cannot be incorporated into the primary government’s financial statements.

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