Which of the Following Is True Regarding the Reporting of Major

question 2

Multiple Choice

Which of the following is true regarding the reporting of major funds in the governmental funds financial statements?

• A) The General Fund is always considered a major fund.
• B) A fund is considered major if its revenues, expenditures, assets, or liabilities exceed 10% of the total governmental fund categories and if the same element (revenues, expenditures, assets, or liabilities) exceeds 5% of the governmental and enterprise funds combined.
• C) Both of the above.
• D) Neither of the above.

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The ability to be quick to notice and respond to potential opportunities or threats.

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A collaborative idea generation technique where a group of people come together to solve a problem or generate creative ideas.

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