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When total revenues of library fund is $ 250,000, total revenues of all governmental funds is $ 3,000,000 and total revenues of all governmental funds
When total revenues of library fund is $ 250,000, total revenues of all governmental funds is $ 3,000,000 and total revenues of all governmental funds & enterprise funds are $ 4,000,000. The total revenues of library fund would contribute to:
a. Null qualification of a major fund
b. Full qualification of a major fund
c. Partial qualification of a major fund
d. None of the above
Government and nonprofit accounting focuses on which of the following?
a. Calculating profit or loss
b. Protecting investors from fraud
c. Demonstrating accountability
d. Reporting to management
Fiduciary activities should be reported in fund statements, but should be excluded from the government-wide statements.
a. True
b. False
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