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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
To account for a donation to the City where the principal is to remain intact forever and the earnings are to be used to benefit the Boy Scout and Girl Scout organizations in the City, the government should use what fund type?
A.   Permanent Fund.
B.   Special Revenue Fund.
C.   General Fund.
D.   Private-Purpose Trust Fund.
(Answer D; Moderate; LO6)

50.   Caraway County financed its new $6,000,000 courthouse by issuing general obligation bonds. In the year financing was secured and construction began, the fund(s) and/or nonfund fund accounts that would most likely be affected would be
A.   The General Fund only.
B.   The Capital Projects Fund only.
C.   The General Fund, General Capital Assets Accounts, and the General Long-Term Liability Accounts.
D.   The Capital Projects Fund, General Capital Assets Accounts, and the General Long-Term Liability Accounts.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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Posts: 10774
Rep: 1064 3
9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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