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 1: Government Grant
Option 2: Capital Fund
Option 3: General Fund
Option 4: None of the above
Answer (1)
22nd Jan, 2024
Correct Answer: Government Grant
Solution :
Grant received from the Government for a specific purpose is restricted to be used for the purpose it is granted. A grant acquired from the Government for a distinct purpose, limited to its designated use, is termed a "Government Grant." These funds are dedicated solely to the intended project or program outlined in the grant agreement.
Hence, the correct option is 1.
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