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  2. Topic
    Business
  3. Study Set
    Accounting for Governmental
  4. Exam
    Exam 4: Accounting for Governmental Operating Activities–Illustrative Transactions and Financial Statements
  5. Question
    A Contribution Was Received by the City for the Purchase
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A Contribution Was Received by the City for the Purchase

Question 31

Question 31

True/False

A contribution was received by the city for the purchase of playground equipment. The contribution would not be recognized as revenue by the permanent fund until the playground equipment has been purchased.

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