A component unit is a legally separate organization in which elected officials of the primary government are financially accountable. An example would consist of park and library foundations.
Also, the component unit can be an organization that has such significant relationship with the primary governemnt that excluding its financial information from the primarys would cause the financial information to be incomplete. The University is a component unit of the State.
A component unit is a legal organization whose majority governing members are from the primary government. Its existence is to benefit or be a financial burden to the primary government or to perform the primary government's task. An example is the Albany public library. It is a component unit of the Albany county.
A component unit can be thought of as a wholly owned subsidiary of the government, but not necessarily one that participates in business-like activities.
A component unit is a legally separate organization in which elected officials of the primary government are financially accountable. An example would consist of park and library foundations.
ReplyDeleteAlso, the component unit can be an organization that has such significant relationship with the primary governemnt that excluding its financial information from the primarys would cause the financial information to be incomplete. The University is a component unit of the State.
DeleteA component unit is a legal organization whose majority governing members are from the primary government. Its existence is to benefit or be a financial burden to the primary government or to perform the primary government's task. An example is the Albany public library. It is a component unit of the Albany county.
DeleteA component unit can be thought of as a wholly owned subsidiary of the government, but not necessarily one that participates in business-like activities.
ReplyDelete