Prior to closing the accounts at the end of the most recent fiscal year,the Town of Sonora reports the following amounts (in thousands):
Required:
Applying the criteria specified in GASB 34,determine which of the above funds should be classified as major funds for reporting purposes.
Definitions:
Morphological Convergence
Evolutionary pattern in which similar body parts (analogous structures) evolve separately in different lineages.
Theory of Uniformity
A principle stating that the same natural laws and processes that operate in the universe now, have always operated in the universe in the past and apply everywhere.
6,000 Years Old
An age designation, often used in historical or geological context, referring to something that is approximately six millennia old.
Reproductive Parts
Reproductive parts are the organs of an organism that are involved in the production of offspring.
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