Which of the following statements is true regarding the inclusion of individual non-major funds in the fund-level financial statements?
a. Individual non-major internal service funds are reported in the fund-level financial statements if a government makes a special election to report them
b. Individual non-major funds must always be reported in the fund-level financial statements.
c. Individual non-major funds must be reported in the fund-level financial statements if, in total, they are more than 50 percent of the total assets or liabilities of the fund category.
d. Individual non-major funds may be reported as major funds in the fund-level financial statement if governmental officials believe it is important to financial statement users.
Question 2
A computer workstation cost 35,000, has an expected life of 7 years, and an expected salvage value of 7,000 . Depreciation expense using the straight-line method will be 5,000 per year.
a. True
b. False
Indicate whether the statement is true or false
Unique markings identify individual humpback whales.
major themes
The major groupings of living primates.
Major Diagnostic Categories of Mental Disorders
Hurricane Paths: Major Hurricane History
Basic Food Groups and Their Major Nutrients (Continued)