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The income arising from bequest or gifts used for specific purpose is termed as____.

Question

The income arising from bequest or gifts used for specific purpose is termed as____.

Endowment Fund

Legacies

Government Grant

Special Fund

Solution

Correct option is A

Income arising from bequests or gifts used for a specific purpose is termed as an "Endowment Fund." These funds are set aside for a particular purpose, often specified by the donor, and are not available for general use.

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