True or False

1. When preparing governmental fund financial statements for a city, the general fund is considered a major fund only if one of the 10% and 5% line item tests is met.

2. Financial statements for fiduciary funds require major fiduciary funds to be reported in separate columns and all nonmajor fiduciary funds to be reported in the aggregate in one column.

3. The combining financial statements of nonmajor governmental funds disclose the detailed amounts that total to the aggregate amounts reported in the nonmajor fund column on the governmental funds financial statements.