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.

---

Definitions:

Folds

Folds are bends in rock layers or strata, resulting from compressional forces and pressure, integral to the study of structural geology and mountain building.

Iron-Ore Deposits

Concentrations of iron minerals within the Earth that can be mined and processed to extract iron metal.

Iron Formations

Geological formations composed of layered sediments and minerals, predominantly iron-rich, that were deposited in ancient oceanic and lake environments.

Sedimentary Sequences

Layers of sedimentary rocks that record the geological history of an area, often showing a progression of depositional environments.