Business, 11.03.2020 00:21 anayabeatriz

1. The members of the Museum Board of the City of Springfield are appointed by the City of Springfield City Council, which has agreed to finance any operating deficits of the museum. Under these conditions:a. The museum is a primary government. b. The city and the museum together are a financial reporting entity. c. The museum is a special district. d. The museum is a component unit of the city.2 Interim government financial reports:a. Are not necessary because administrators and managers of the government are already familiar with the events andactivities of the government on a day to day basis. b. Should be prepared and distributed publicly at regular intervals. c. Are important for budgetary and cash management purposes. d. Are not necessary as long as the government prepares a comprehensive annual financial report [CAFR].3. The comprehensive annual ﬁnancial report (CAFR) of a governmental reporting entity should contain a statement ofcash flows for:

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