Question

GASB standards require that any fund that does not meet the specified criteria to be considered a major fund must be reported as part of a single column under the label non-major fund)_______________

Answer 1

In financial reporting, GASB standards require non-major funds to be reported as part of a single column under the label 'non-major fund.'

Step-by-step explanation:

In financial reporting, GASB standards require that any fund which does not meet the specified criteria to be considered a major fund must be reported as part of a single column under the label non-major fund. This means that if a fund does not satisfy the criteria set by GASB to be classified as a major fund, it should be combined with other similar funds and reported separately as a non-major fund.