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A Permanent Fund Reports Endowment Investments of $10 Million, Where

Question 3

Multiple Choice

A permanent fund reports endowment investments of $10 million, where donors specify that investment income be used for specific activities. On its balance sheet, the permanent fund reports the investments as assets, and also reports $10 million in which category of fund balance?


A) Nonspendable
B) Restricted
C) Committed
D) Assigned

Correct Answer:

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