Question $1$

A major governmental fund is one that has one or more elements $($e$.$g$.,$ assets, liabilities, revenues, or expenditures$)$ that is at least:

Five percent of the corresponding element$($s$)$ of total governmental funds and five percent of the corresponding element$($s$)$ of total governmental and enterprise funds combined.

Ten percent of the corresponding element$($s$)$ of total governmental funds and $5$ percent of the corresponding element$($s$)$ of total governmental and enterprise funds combined.

Five percent of the corresponding element$($s$)$ of total governmental funds and $10$ percent of the corresponding element$($s$)$ of total governmental and enterprise funds combined.

Ten percent of the corresponding element$($s$)$ of total governmental funds and $10$ percent of the corresponding element$($s$)$ of total governmental and enterprise funds combined.