The General Fund is not always considered to be a major fund when preparing fund basis financial statements.

Name: The General Fund is not always considered to be a major fund when preparing fund basis financial statements.
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Question

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In addition to the government-wide statement, governments are required to prepare fund-level financial statements and are required to present separate columns for each major fund. The general fund is considered a major fund for reporting purposes.

The General Fund Is Not Always Considered to Be a Major