Abolishment of Fund

Business, Legal & Accounting Glossary

Definition: Abolishment of Fund


Abolishment of Fund

Quick Summary of Abolishment of Fund


The closure of a fund pursuant to the operation of law. When a special fund is abolished, all of its assets and liabilities are transferred by the Controller to a successor fund, or if no successor fund is specified, then to the General Fund.




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January 19, 2022 https://payrollheaven.com/define/abolishment-of-fund/.
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Abolishment of Fund. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/abolishment-of-fund/ (accessed: January 19, 2022).
American Psychological Association (APA):
Abolishment of Fund. PayrollHeaven.com. Retrieved January 19, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/abolishment-of-fund/

Definition Sources


Definitions for Abolishment of Fund are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December, 2021 | 0 Views.