Multiple Choice
A donor contributed $500,000 to the city stipulating that the money be invested and that the earnings thereon be used for maintenance of the a band shell in the city's park. The $500,000 would most appropriately be recorded in a(an) :
A) Custodial fund.
B) Private-purpose trust fund.
C) Endowment fund.
D) Permanent fund.
Correct Answer:
Verified
Correct Answer:
Verified
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