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Which of the following statements is true of a Special-purpose government?

Which of the following statements is true of a Special-purpose government?


Special-purpose governments that are engaged in more than one governmental-type activities can combine the fund and government-wide financial statements.

Special-purpose governments engaged in only one governmental-type activity only have to prepare fund-basis financial statements.

GASB Statement 35 indicates that public higher education institutions may choose to report as business-type activities.

GASB Statement 39: Determining Whether Certain Organizations Are Component Units applies only to public educational institutions.

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