With Respect to the Preparation of Fund Basis Financial Statements,governmental

question 34

Multiple Choice

With respect to the preparation of fund basis financial statements,governmental funds other than the major fund are considered to be major when which of the following conditions exist?

• A) With respect to fund basis financial statements, governmental funds are considered to be a major fund when total assets, liabilities, revenues, or expenditures of the individual governmental fund under consideration constitutes 25% of the total for the governmental fund category.
• B) With respect to fund basis financial statements, governmental funds are considered to be a major fund when total assets, liabilities, revenues, or expenditures of individual governmental or enterprise fund under consideration are 15% of the total of the governmental and enterprise categories, combined.
• C) Both A and B are required for a governmental fund to be a major fund.
• D) Neither A nor B are correct.

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Definitions:

Stress

A physical, mental, or emotional factor that causes bodily or mental tension and may be a factor in disease causation.

Increase

The act or process of becoming larger or more in quantity, size, degree, or amount.

Stressors

External pressures or events that cause stress, challenging an individual's ability to cope or adapt effectively.

Stress

The physical or emotional response to external pressures or demands, which can affect an individual's mental and physical well-being.