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When a City Received a Private Donation of $1,000,000 Stipulating

Question 20

Multiple Choice

When a city received a private donation of $1,000,000 stipulating that the principal donation would be preserved but allowing the interest income to be spent on building a city park with access for disabled children, which fund should the money be recorded in?


A) the General Fund.
B) an Expendable Trust Fund.
C) a Permanent Fund.
D) an Agency Fund.
E) a Special Revenue Fund.

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