A citizen donates investments valued at $22,000 to the City of Townsend. The citizen stipulates that the
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A citizen donates investments valued at $22,000 to the City of Townsend. The citizen stipulates that the investments be held. Any resulting income must be used to help maintain the city’s cemetery. In which fund should the city report this investment?
a. Special revenue funds
b. Capital projects funds
c. Permanent funds
d. General fund
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Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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