A city received a gift from a resident to be used to maintain several city parks. Only the income earned on the gift may be used

Question

3 years ago

5

to maintain the parks. The principal of the gift must remain intact. What kind of fund is used for this gift?

1 answer:

Airida [17] · Answer 1 · 2022-03-25T16:23:38+03:00

Answer:

Permanent fund

Explanation:

Permanent fund -

It refers to the amount of money maintained by the government of the states for various purpose , is referred to as the permanent funds .

The revenues are maintained by natural resources like the minerals and gas and some are given by the non profit organisation .

The funds can be used for any emergency condition or for gifting purpose faced by the state .

Hence , from the given scenario of the question ,

The correct answer is permanent fund .