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    Essentials of Accounting Study Set 3
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    Exam 1: Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations
  5. Question
    Permanent Funds Can Be Either a Governmental Fund or a Fiduciary
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Permanent Funds Can Be Either a Governmental Fund or a Fiduciary

Question 119

Question 119

True/False

Permanent funds can be either a governmental fund or a fiduciary fund where only income on donated assets may be spent.

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