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Q.) Major fund reporting is required for which of the following fund types? Select one: a....

Q.) Major fund reporting is required for which of the following fund types?

Select one:

a. Enterprise Funds.

b. Internal Service Funds.

c. Agency Funds.

d. Private-Purpose Trust Funds.

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Answer #1

a. Enterprise funds

Government funds and enterprise funds are to be reported if these meet the criteria of a major fund. The general fund is always a major fund.

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