In previous years, Center City had received a $400,000 gift of cash and investments.The donor had specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested.During the current year, the earnings from this gift were $24,000.The earnings from this gift should generally be considered revenue to which of the following funds?
A) Special revenue fund.
B) Private-purpose trust fund.
C) Agency fund.
D) Permanent fund.
Correct Answer:
Verified
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