Major funds are described as
A)the general fund and enterprise funds
B)at least 5% of all government and enterprise funds combined
C)those in which assets, liabilities, revenues, or expenditures are at least 10% of all funds in that type.
D)all of the above

Question

Major funds are described as
A)​the general fund and enterprise funds
B)​at least 5% of all government and enterprise funds combined
C)​those in which assets, liabilities, revenues, or expenditures are at least 10% of all funds in that type.
D)​all of the above

Quizplus · Accepted Answer

Major funds are defined as the general fund, enterprise funds, and any other funds where assets, liabilities, revenues, or expenditures/expenses are at least 10% of the corresponding total for all governmental or enterprise funds and at least 5% of the aggregate amount for all governmental and enterprise funds combined.

Major Funds Are Described as