When total assets of gas tax revenue fund is $ 350,000, total assets of all governmental funds is $ 3,000,000 and total assets of all governmental funds & enterprise funds are $ 7,000,000. The total assets of gas tax revenue fund would contribute to:

		a. Full qualification of a major fund
		b. Partial qualification of a major fund
		c. Null qualification of a major fund
		d. None of the above

The permanent fund is one of the several types of governmental funds.

		a. True
		b. False

Under the modified accrual basis of accounting:

		a. Revenues are recognized at the time an exchange transaction occurs.
		b. Expenditures are recognized as the cost of an asset expires or is used up in providing governmental services.
		c. Revenues are recognized when current financial resources become measurable and available to pay current-period obligations.
		d. Expenses are recognized when an obligation occurs for costs incurred in providing services.