A fund created out of a specific amount earmarked, gifted, or donated and the income of this fund is to be used for a specific purpose. Answer in a word / phrase / term.
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Capital fund
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@lava90
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Answer:
Endowment fund
Explanation:
A fund created out of a specific amount earmarked, gifted, or donated and the income of this fund is to be used for a specific purpose is known as the endowment fund.
Endowment Fund is the fund produced through donations and legacies. Usually revenue from such funds is assigned for a particular purpose. It is a receipt of equity because it offers the organization with a permanent income and is shown as a distinct element on the liabilities hand.
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