Carl City Received $200,000 to Help Maintain a Local Art

question 61

Multiple Choice

Carl City received $200,000 to help maintain a local art museum that is owned and operated by a not-for-profit organization. During the year the city transferred net earnings of $20,000 to the appropriate entity/fund.
-The $200,000 gift would be reported in a (an) :

• A) Special revenue fund.
• B) Private-purpose trust fund.
• C) Agency fund.
• D) Permanent fund.

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Definitions:

Convergent Plate Boundary

A region where two tectonic plates are moving toward each other, often resulting in one plate subducting beneath the other and leading to geological phenomena such as earthquakes and mountain building.

Plate Boundaries

The edges where two or more of Earth's tectonic plates meet, often resulting in geological activity such as earthquakes and volcanism.

Divergent Boundary

A tectonic plate boundary where two plates are moving away from each other, often resulting in the creation of new oceanic crust.

Subduction Zone

A region where one tectonic plate moves under another, often causing earthquakes and volcanic activity.