Question

The Dillard Park Fund is used to account for a private donation by Mr. and Mrs. Bud Dillard. When making the donation, the Dillard's stipulated that only the income from this fund could be used for the operations of Dillard Park, a city owned park. The Dillard Park Fund is a: Group of answer choices General Fund Permanent Fund Private-Purpose Trust Fund Special Revenue Fund

Answer 1

Answer:

permanent fund                                                              

Explanation:

In simple words, A permanent funds relates to the one of the five categories of federal funds defined by GAAP throughout the United States. It is listed as a genuine investment fund limited to administrations as well as voluntary organizations.

Often, even if the funding is being used to disclose the position of a limited financial assets will a fund be known as just a permanent Fund. The capital is constrained in the context that certain capital profits are included, but not the principle.