Governmental Funds, Other Than the General Fund, Are Considered Major

Multiple Choice

Governmental funds, other than the General Fund, are considered major if:
I. Total Assets, Liabilities, Revenues, or Expenditures of that individual governmental fund are at least 10% of the corresponding total assets, liabilities, and so forth for all governmental funds.
II. Total Assets, Liabilities, Revenues, or Expenditures of the individual governmental fund are at least 5% of the corresponding total for all governmental and enterprise funds combined.

A) I only.
B) II only.
C) Either I or II, but need not be both.
D) Both I and II.