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Question : Examples of Restricted Fund are
Option 1: Government Grant
Option 2: Endowment Fund
Option 3: Annuity Fund, Loan Fund, Prize Fund
Option 4: All of the above
Correct Answer: All of the above
Solution : Restricted funds, such as government grants, endowments, annuities, loans, and prize funds, are earmarked for specific purposes by donors or governing bodies. These funds cannot be freely used for other expenses, ensuring they are dedicated to their intended objectives, such as supporting programs, providing scholarships, or funding infrastructure projects. Hence, the correct option is 4.
Question : -------------------- is set-up to grant loans for specific purposes say loan to pursue higher studies.
Option 1: Loan fund
Option 2: Annuity Fund
Option 3: Endowment fund
Option 4: None of the above
Question : Which of the following is an unrestricted fund?
Option 1: Sports fund
Option 2: Capital fund
Option 3: Annuity fund
Option 4: Endowment fund
Question : Grant received from the Government for a specific purpose is restricted to be used for the purpose it is granted is known as
Option 2: Capital Fund
Option 3: General Fund
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