Which of the Following Is True with Respect to the General

Multiple Choice

Which of the following is true with respect to the General Fund.

A) The General Fund is considered to be a major fund if the combined total of assets, liabilities, revenues and expenses exceeds 10 of the total of all governmental funds.
B) The General Fund is always considered to be a major fund when preparing fund basis financial statements.
C) The General Fund is never considered to be a major fund when preparing fund basis financial statements.
D) The General Fund is not reported as part of the CAFR.