A gift of $1,000,000 to a city, to be invested permanently, with the proceeds to be used to maintain the city war memorials should be accounted for in a special revenue fund.
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Q53: General Funds and special revenue funds typically
Q54: Permanent funds may spend both earnings and
Q55: Budgets are typically not recorded for Special
Q56: Since long-term liabilities are not recorded in
Q57: Budgets are typically recorded for Capital Projects
Q59: Permanent funds account for resources that are
Q60: Budgets are typically recorded for Debt Service
Q61: Which of the following statements is false?
A)
Q62: Budgets are typically recorded for which of
Q63: Debt service funds may be required to
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