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King City Council will be establishing a library fund. Library fees are expected to cover...

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Accounting

King City Council will be establishing a library fund. Library fees are expected to cover 55% of the librarys annual resource requirements. King has decided that an annual determination of net income is desirable in order to maintain management control and accountability over the library. What type of fund should King establish in order to meet their measurement objectives?

Select one:

  1. Special revenue fund
  2. General fund
  3. Internal service fund
  4. Enterprise fund

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