Multiple Choice
Which of the following would be accounted for as a permanent fund?
A) A gift of $75,000 to a school district, to be invested permanently, with the proceeds to be awarded as college scholarships to graduating seniors.
B) A gift of $75,000 to a school district, to be used for landscaping improvements.
C) A gift of $75,000 to a city to be invested permanently, with the proceeds to be used to buy books for the city library.
D) Both A and C
Correct Answer:
Verified
Correct Answer:
Verified
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