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Which of the following statements concerning pooled-income funds are correct?
Which of the following statements concerning pooled-income funds are correct?
l. The fund contains commingled donations from many sources.
ll. A decedent donation purchases units in the fund which generate income that is paid at least annually to a charity.
A . l only
B . II only
C . Both l and ll
D . Neither I nor II
Answer: A
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