Multiple Choice
A city received a grant of $5,000,000 from a private agency. The money was to be used to build a new city library. In which fund should the money be recorded for the governmental fund financial statements?
A) The General Fund.
B) An Expendable Trust Fund.
C) A Capital Projects Fund.
D) An Agency Fund.
E) A Permanent Fund.
Correct Answer:
Verified
Correct Answer:
Verified
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