The town of Gracie has established a permanent fund to account for numerous significant gifts intended to maintain a cemetery in perpetuity. Investment earnings from the permanent fund have been more than enough to maintain the cemetery. What fund balance classification should be used to account for unspent investment earnings that remain in the fund at year end?

A. Assigned fund balance

B. Restricted Fund Balance

C. Unassigned fund balance

D. Nonspendable fund balance

E. None of the above

Answer rating: 100% (QA)

Restricted Fund Balance It is said that the unspent portion of t... View the full answer