Under GASB Standards, Where Are Nonmajor Funds Reported

question 57

Multiple Choice

Under GASB standards, where are nonmajor funds reported?

• A) In the management's discussion and analysis preceding the financial statements.
• B) In aggregate amounts in a single column in the fund financial statements.
• C) In a note disclosure following the financial statements.
• D) In the government-wide financial statements.

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Definitions:

Nonlinear Formatting

A way of organizing content that does not follow a straight, sequential order, often used in digital media to allow for interactive exploration.

Production Efforts

Production efforts refer to the activities, resources, and work dedicated to producing goods or services, often involving planning, coordination, and execution to meet desired outputs.

Effective

Producing the intended result or having a striking impact.

Easiest

The term easiest denotes the level of least difficulty, referring to tasks, solutions, or paths requiring the minimal effort or complication.