Which of the Following Is False Regarding Major Fund Reporting

question 115

Multiple Choice

Which of the following is false regarding major fund reporting for governmental funds?

• A) The General Fund is always a major fund.
• B) Each fund that is considered major must be reported in a separate column in the governmental funds financial statements.
• C) A government may designate any fund as major if it feels that reporting that fund in the basic financial statements would be useful.
• D) None of the above, all are true.

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Definitions:

"If-Then" Rules

Statements in programming and logic that define a condition (IF) and the outcome (THEN) that follows if the condition is met.

Management Information System

A system designed to manage and process an organization's information and support its decision-making processes.

Software

All the programs, routines, and computer languages that control a computer and tell it how to operate.

Internet Of Things

A network of physical objects—devices, vehicles, appliances—that are embedded with sensors, software, and other technologies to connect and exchange data with other devices and systems over the internet.