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Chapter 11

Granof-5e

Chapter 11

Granof-5e

Other Types of Units (Cont’d)

GASB Stmt. # 39: Requires governments to report certain organizations as discretely presented component units if they are

legally separate

Tax exempt and meet all of the following conditions:

Economic resources held are for the direct benefit of the primary government or its component units.

The primary government or its component units have direct access to the economic resources

The economic resources held or received are significant to that primary government.

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