Question

Individual fund financial information is reported in separate columns of governmental and proprietary fund financial statements for only those funds that meet the GASB size-related criteria as major funds.

A. True
B. False

Answer 1

Individual fund financial information is reported in separate columns of governmental and proprietary fund financial statements for only those funds that meet the GASB size-related criteria as major funds. The statement is true.

Step-by-step explanation:

The statement is true. Individual fund financial information is reported in separate columns of governmental and proprietary fund financial statements for only those funds that meet the GASB size-related criteria as major funds.

This is done to provide a clear and comprehensive view of the financial activity and performance of major funds within the organization.