11.With respect to fund basis financial statements, a government may onlydesignate a fund to be a major fund if it meets the size thresholds established by GASB.
12.With respect to fund basis financial statements, a government may designate any fund to be a major fund if reporting that fund separately would be useful.
13.When preparing fund basis financial statements, any funds not reported separately are aggregated and reported in a single column under the label
non-major funds.
14.When preparing fund basis financial statements, any funds not reported separately are reported individually by function.
15.Fiduciary fund statements are prepared using the current financial resources measurement focus and modified accrual basis of accounting.
16.Governmental fund statements are prepared using the economic financial resources measurement focus and modified accrual basis of accounting.
17.According to GASB, a primary government can only be a state or a general-purpose local government, such as a city or county.
18.Blending of financial information is done only when component units and the primary government are so intertwined that they are essentially the same.
19.The statistical section of the CAFR contains the combining schedules of non-major funds.
20.The government-wide financial statements present the government as a whole, including component units and including fiduciary activities.