State whether these statements are true or false. For any false statement, explain why it is false.

$1.$ In the fund financial statements, the General Fund should always be reported as a major fund

Answer $1$

TRUE

$2.$ In the fund financial statements, a government may elect to report any governmental or Enterprise Fund as major if the government considers financial information on that fund particularly important to statement users.

Answer $2$

TRUE

$3.$ Notes to the financial statements are a form of required supplementary information.

Answer $3$

$4.$ When the financial data of a component unit are "blended" with the financial data of a primary government, the blended data are presented in both the fund financial statements and the government$-$wide statements

Answer $4$

$5.$ In the fund financial statements, Enterprise Funds must be presented using the current financial resources measurements focus and the modified accrual basis of accounting.

Answer $5$

$6.$ Fiduciary funds are not reported in the fund financial statements, but instead are aggregated and reported in a single column in the government$-$wide financial statements.

Answer $6$

$7.$ A state government that receives a grant from the federal government to construct a firehouse should report the resource inflow as revenues in the Capital Projects fund.

Answer $7$

FALSE

$8.$ Net position is reported as restricted in proprietary funds only if the restrictions are imposed by the entity's constitution or statue.