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The principal of a Private-Purpose Trust Fund Must be nonspendable in nature. Must be spendable in nature. Must never fall below a pre-determined threshold that

The principal of a Private-Purpose Trust Fund

Must be nonspendable in nature.

Must be spendable in nature.

Must never fall below a pre-determined threshold that is determined by generally accepted accounting principles.

May be spendable or nonspendable in nature.

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