100.What is the difference between a component unit and a special purpose local government? 101.Answer the following related to accounting and financial reporting for public colleges and...

100.What is the difference between a component unit and a special purpose local government?

101.Answer the following related to accounting and financial reporting for public colleges and universities:

a. What choices exist for financial reporting by public colleges and universities, according to GASB Statement 35?

b. Indicate the contents required for a financial report for those public colleges and universities that choose to report as special-purpose entities engaged only in business-type activities.