The City of Canandaigua Receives Proceeds from the Sale of Land,the

Multiple Choice

The city of Canandaigua receives proceeds from the sale of land,the transaction is considered to be a special item.The proceeds are:

A) Reported as a revenue.
B) Reported separately after other financing sources and uses.
C) Reported as an item that changes the Fund Balance.
D) Not recorded but the gain on the sale is.