Multiple Choice
A local town received a donation of $300,000. The donor stipulated that the money be invested. The investment earnings are to be used to provide funding for the town's recreation programs but the principal is to remain intact. The town should record the $300,000 as
A) an other financing source in the General Fund.
B) an other financing source in a Permanent Fund.
C) a revenue in a Permanent Fund.
D) a Capital Contribution in a Permanent Fund.
Correct Answer:
Verified
Correct Answer:
Verified
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