Which of the Following Governmental Funds Must Be Reported as a Major

question 58

Multiple Choice

Which of the following governmental funds must be reported as a major fund?

• A) The General Fund.
• B) Any fund with total assets, liabilities, revenues, or expenditures that are 10% or more of the General Fund and 5% or more of total General Fund and Business-type Activities.
• C) The government may opt to include or exclude any fund it choses as a major fund.
• D) Only the General Fund and special revenue funds that meet the 10% and 5% size criteria.

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Definitions:

Binding Arbitration

A method of dispute resolution where a neutral third party makes a decision that is legally binding on both sides.

Arbitrator's Decision

The final judgment or resolution made by an arbitrator in a dispute resolution process.

Written Decisions

Documented conclusions or resolutions made by authorities, organizations, or individuals after considering a set of facts or arguments.

HR Arbitration

A dispute resolution process involving a neutral third party, used in human resources to settle conflicts between employees and employers.