Under GASB standards,where are nonmajor funds are reported?
A) In the management's discussion and analysis preceding the financial statements.
B) In aggregate amounts in a single column in the fund financial statements.
C) In a note disclosure following the financial statements.
D) In the government-wide financial statements.

Question

Quizplus · Accepted Answer

According to GASB standards, nonmajor funds are reported in aggregate amounts in a single column in the fund financial statements. Major funds are reported in separate columns.

Under GASB Standards,where Are Nonmajor Funds Are Reported