With Respect to Permanent Funds,which of the Following Is Not

question 111

Multiple Choice

With respect to Permanent Funds,which of the following is not true?

• A) The principal is classified as Nonspendable Fund balance
• B) Permanent Funds are created when resources are provided by private donation.
• C) Permanent Funds use the current financial resources measurement focus.
• D) Earnings in excess of expenditures must be added to principal corpus.

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