A Governmental Entity Has a General Fund, Four Special Revenue

question 34

Multiple Choice

A governmental entity has a General Fund, four Special Revenue Funds, two Debt Service Funds, a Permanent Fund, two Enterprise Funds, three Internal Service Funds, and two Pension Trust Funds. Using the criteria from GASB Statement No. 34 to identify major funds, the government discovers that two of the Special Revenue Funds and one Enterprise Fund meet the minimum criteria to be a major fund. How many individual governmental funds may be reported as major funds?

• A) Four (4).
• B) Eight (8).
• C) Ten (10).
• D) Fifteen (15).

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Definitions:

Ketones

Organic compounds containing a carbonyl group (C=O) flanked by two carbon atoms, featured in various chemical reactions.

Aldehydes

Organic compounds characterized by the functional group -CHO, consisting of a carbonyl center bonded to hydrogen and an R group, used in various chemical syntheses.

Resonance Structures

Representations of a molecule or ion where the chemical connectivity is the same but the electrons are distributed differently around the structure.

Enamine

Organic compounds formed by the reaction of an aldehyde or ketone with a secondary amine followed by dehydration.