A citizen of the City ofTownsend gives it a gift of $22,000 in investments. The citizen requires
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A citizen of the City ofTownsend gives it a gift of $22,000 in investments. The citizen requires that the investments be held but any resulting income must be used to help maintain the city’s cemetery. In which fund should this asset be reported? LO9
a. Special Revenue Funds.
b. Capital Projects Funds.
c. Permanent Funds.
d. General Fund.
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Related Book For 
Advanced Accounting
ISBN: 9780073379456
9th Edition
Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle
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