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1. Under GASB rules, a special revenue fund must be reported as major if A. Its total expenditures are at least 10% of the total

1. Under GASB rules, a special revenue fund must be reported as major if

A. Its total expenditures are at least 10% of the total expenditures of all governmental funds and at least 5% of the total expenditures of governmental and internal service funds combined.

B. Its total assets are at least 5% of the total assets of all governmental funds and at least 10% of the total assets of all governmental and internal service funds combined.

C. Its total liabilities are at least 5% of the total liabilities of all governmental funds and at least 10% of the total liabilities of governmental and internal service funds combined.

D. Its total revenues are at least 10% of the total revenues all governmental funds and at least 5% of the total revenues of all governmental and enterprise funds combined.

2. In preparing Case Citys reconciliation of the statement of revenues, expenditures, and changes in fund balances to the government-wide statement of activities, which of the following items should be subtracted from changes in fund balances?

A. Capital asset purchases.

B. Internal service fund increase in net position

C. Payment of long-term debt principal

D. Book value of capital assets sold during the year

3. In the governmental activities column of the government-wide financial statements, information related to which funds are normally presented?

A. Governmental funds only

B. Governmental funds and internal service funds only

C. Enterprise funds only

D. Enterprise funds and internal service funds only

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