Which of the Following Statements Is False

question 114

Multiple Choice

Which of the following statements is false?

• A) With respect to fund basis financial statements, a government may designate any fund to be a major fund if reporting that fund separately would be useful.
• B) When preparing fund basis financial statements, any funds not reported separately are reported by function.
• C) When preparing fund basis financial statements, any funds not reported separately are aggregated and reported in a single column under the label non-major funds.
• D) In addition to the government-wide statements, governments are required to prepare fund financial statements for governmental, proprietary and fiduciary funds.

---

Definitions:

Emergency Care

Medical services provided for sudden or urgent health conditions requiring immediate attention.

Marginal Cost

The added expense from making one more unit of a product or service.

Marginal Benefit

The extra advantage or happiness derived from the use of one more unit of a good or service.

Consumption

The use of goods and services by households or individuals, contributing to their utility and the overall demand in an economy.