Multiple Choice
Which of the following is false regarding major fund reporting for governmental funds?
A) The General Fund is always a major fund.
B) Each fund that is considered major must be reported in a separate column in the governmental funds financial statements.
C) A government may designate any fund as major if it feels that reporting that fund in the basic financial statements would be useful.
D) None of the above, all are true.
Correct Answer:

Verified
Correct Answer:
Verified
Q110: Which of the following is true regarding
Q111: Which of the following is true regarding
Q112: According to the GASB, a primary government
Q113: Fund balance is an account title used
Q114: Which of the following statements is false?<br>A)
Q116: Which of the following is true regarding
Q117: The Comprehensive Annual Financial Report CAFR contains
Q118: The Governmental Accounting Standards Board has established
Q119: Which of the following is true regarding
Q120: Prior year balances are required to be