Multiple Choice
With respect to Permanent Funds,which of the following is not true?
A) The principal is classified as Nonspendable Fund balance
B) Permanent Funds are created when resources are provided by private donation.
C) Permanent Funds use the current financial resources measurement focus.
D) Earnings in excess of expenditures must be added to principal corpus.
Correct Answer:
Verified
Correct Answer:
Verified
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