In Previous Years, Boze City Had Received a $400,000 Gift

In previous years, Boze 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.
Use the following information to answer Questions #3-4
Carl City received $200,000 to help maintain a local art museum that is owned and operated by a not-for-profit organization.During the year the city transferred net earnings of $20,000 to the appropriate entity/fund.