A City Determines That It Has Three Major Governmental Funds

Multiple Choice

A city determines that it has three major governmental funds, including the General Fund, and two major enterprise funds. The city will

A) Always have three major governmental funds and two major enterprise funds.
B) Evaluate each year which funds are major and which funds are considered to be nonmajor except the General Fund which is always considered a major fund.
C) Only be required to show a separate column for the General Fund.
D) Be able to report all of the major funds in one column on the respective fund financial statements.