The City of Fox is evaluating which of its funds it will present as a major fund in its fund financial statements on December 31, Year 1. The city presents the following partial listing of asset data at December 31, Year 1: Total Governmental Fund Type Assets $ 3,000,000 Total Enterprise Fund Assets 2,000,000 General Fund Assets 280,000 Community Development Special Revenue Fund 290,000 Faberville River Bridge Capital Project Fund 100,000 Faberville Water & Sewer Utility Fund 1,800,000 Faberville Landfill 200,000 Based purely on assets, how many funds should be displayed as major funds? A.) Four B.) Five C.) TWO D.) Three
The City of Fox is evaluating which of its funds it will present as a major fund in its fund financial statements on December 31, Year 1. The city presents the following partial listing of asset data at December 31, Year 1:
Total Governmental Fund Type Assets $ 3,000,000
Total Enterprise Fund Assets 2,000,000
General Fund Assets 280,000
Community Development Special Revenue Fund 290,000
Faberville River Bridge Capital Project Fund 100,000
Faberville Water & Sewer Utility Fund 1,800,000
Faberville Landfill 200,000
Based purely on assets, how many funds should be displayed as major funds?
A.) Four
B.) Five
C.) TWO
D.) Three
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