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A city receives a grant with only a time requirement that is accounted for in a Special Revenue Fund. The city receives $200,000 in the
A city receives a grant with only a time requirement that is accounted for in a Special Revenue Fund. The city receives $200,000 in the current fiscal year, but the grant proceeds cannot be used until the next fiscal year. The city would recognize $200,000 as intergovernmental grant revenues in the next fiscal year. T/F
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