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Which operator in a service concession arrangement is a

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Reference no: EM132744971

Problem 1: Which of the following statements is correct regarding the presentation of financial statements by government entities?

a. Non-adjusting events are never recognized but are always disclosed.

b. Changes in accounting policies may be accounted for by prospective application.

c. Just like business entities, government entities may (if they choose to) prepare interim financial statements on a quarterly basis.

d. Prior period errors are corrected by retrospective application.

Problem 2: The operator in a service concession arrangement is a

a. private entity

b. jeepney

c. government entity

d. separate entity

Reference no: EM132744971

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