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.

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