Question 32 Not yet answered Marked out of 3.00 Flag question Reporting entity A city created The City Building Authority (CBA) as a separate legal entity-a public benefit corporation. CBA is governed by a five-person board appointed for 6-year terms by the mayor, subject to city council approval. The authority sells tax-exempt bonds and uses the proceeds only to finance the construction or acquisition of general capital assets and only for the city. The bonds are secured by a lease agreement with the city and will be retired through lease payments from the city. Is CBA a component unit of the city? If so, how should the city report its financial activities? (Adapted from GASB Statement 14, par. 134) Based on the information provided, select the correct statement. OThe CBA qualifies as a discretely presented component unit. OThe CBA qualifies as a blended component unit. OThe CBA does not meet the criteria to be considered a component unit. Question 33 Not yet answered Marked out of 2.00 Flag question How is the financial information for individual nonmajor funds displayed in the fund financial statements? Select one: O A. Individual nonmajor governmental funds are aggregated and presented in a single column in the fund statements, but nonmajor proprietary funds are not. B. It is not displayed anywhere in the fund financial statements. o C. It is aggregated and displayed in a single column in the fund statements; combining statements for nonmajor funds are not required but may be presented as supplementary information. D. It is not displayed anywhere in the fund financial statements, but may be reported in the combining statements