Which of the following is true with respect to the General Fund
a. The General Fund is considered to be a major fund only if the total of assets, liabilities, revenues or expenditures exceeds 10% of the total of all governmental funds.
b. The General Fund is considered to be a major fund when preparing fund basis financial statements only if the total assets, liabilities, revenues, or expenditures of that individual governmental or enterprise fund are 5% of the total of the governmental and enterprise categories, combined.
c. Both A and B are required.
d. The General Fund is always considered a major fund.
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