Author Question: The Dillard Park Fund is used to account for a private donation by Mr. and Mrs. Bud Dillard. When ... (Read 92 times)

ishan · **on:** Jul 5, 2018

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:
a. General Fund
b. Special Revenue Fund
c. Permanent Fund
d. Private-Purpose Trust Fund

Question 2

There is really no benefit in preparing financial statements in any particular order.
a. True
b. False

Indicate whether the statement is true or false