The city maintains a $1-million endowment trust to provide financial assistance to needy retired employees and their

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The city maintains a $1-million endowment trust to provide financial assistance to needy retired employees and their families. In its government-wide statements, the $1 million would be reported as an asset in the column for 

a. Governmental activities.
b. Business-type activities.
c. Totals, but not in the column for either governmental or business-type activities.
d. None of the above.

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Government And Not For Profit Accounting Concepts And Practices

ISBN: 9781119803898

9th Edition

Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese

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