A City Determines That It Has Three Major Governmental Funds

question 38

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.

---

Definitions:

Trust and Mutual Commitment

The belief in the reliability, truth, ability, or strength of a party, coupled with a pledge to maintain a relationship over time.

Retention Problems

Issues faced by organizations in keeping their valued employees from leaving.

Vacancy Analysis

An assessment to identify current or future job openings within an organization, considering factors such as current staffing levels, future needs, and skill requirements.

Open Positions

Vacancies in an organization that are available for new hires.