Which of the Following Is not Correct with Respect to Major

question 109

Multiple Choice

Which of the following is not correct with respect to major enterprise funds?

• A) Any funds not reported separately are aggregated and reported in a single column under the label nonmajor funds.
• B) A government may designate any fund as a major fund if reporting that fund separately would be useful.
• C) The general fund is not classified as a major fund if it does not meet the 10% and 5% tests for a major fund.
• D) If the reporting government is preparing a complete CAFR, a schedule showing the detail of nonmajor funds is provided in the other supplementary information section.

Recognize and classify costs according to their behavior as either variable, fixed, or mixed.

Analyze and interpret comparative income statements for decision-making.

Understand the concept of fixed, variable, and mixed costs and their behavior as activity levels change.

Apply cost formula to predict total cost at different activity levels.

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Definitions:

Stereotypes

Overgeneralized beliefs about a particular category of people, which can lead to prejudicial attitudes and discrimination.

Fixed Beliefs

Fixed beliefs are rigid ideas or convictions held by an individual that are resistant to change even when presented with new information.

Characteristics

Traits or features that distinguish a person, object, or phenomenon from others.

Perception Influences

Factors that affect how individuals interpret and make sense of their sensory experiences and shape their understanding of the world.