Which of the Following Would Be Accounted for as a Permanent

question 82

Multiple Choice

Which of the following would be accounted for as a permanent fund?

• A) An intergovernmental grant of $500,000 to a city to be used for low income housing.
• B) A gift of $500,000 to a city, to be invested permanently, with the proceeds to be distributed as scholarships.
• C) A gift of $500,000 to a city, to be invested permanently, with the proceeds to be used to maintain the city cemetery.
• D) A gift of $500,000 to a city to be used for a new caretaker's residence at the local cemetery.

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