Which of the Following Should Be Accounted for in a Permanent

question 46

Multiple Choice

Which of the following should be accounted for in a permanent fund?

• A) A gift of $300,000 to a school board, to be given out $10,000 a year to the class valedictorian as a college scholarship.
• B) A gift of $300,000 to a city, to be expended next year to purchase books for the city library.
• C) A gift of $3,000,000 to a city, to be invested permanently, with the proceeds to be used to distribute to one or more nonprofit groups.
• D) A gift of $3,000,000 to a city, to be invested permanently, with the proceeds to be used to maintain the city war memorials.

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Definitions:

English Colonists

Early settlers from England who established colonies in North America, including the thirteen colonies that became the United States.

Native Americans

Indigenous peoples of the United States, including those who were living in the land that is now the U.S. before European colonization.

Interracial Marriages

Marriages between individuals of different racial backgrounds.

English Settlers

Refers to the early colonists from England who established communities in what is now the United States during the 17th and 18th centuries.