Answer:
The answer is: A) True
Explanation:
According to the GASB (Governmental accounting Standards Board) Statement No. 34:
"Major funds are funds whose revenues, expenditures/expenses, assets, or liabilities (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or enterprise funds and at least 5 percent of the aggregate amount for all governmental and enterprise funds. Any other fund may be reported as a major fund if the government's officials believe that fund is particularly important to financial statement users."
Answer: $150
Explanation: Opportunity cost can be defined as the cost of loosing profits by not choosing the second best alternative over the best alternative. Every resource can be used for different alternatives and when an individual chooses one of those many alternatives, the potential loss of gain from the rejected ones is opportunity cost.
In the given case, the individual is holding the money in cash for use but if he had deposited it in a bank he could be eligible for interest. The amount of interest that he looses is his opportunity cost.
Thus, the amount of opportunity cost is $ 150.
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