Business, Legal & Accounting Glossary
A temporary account set up to hold cash inflows or outflows connected to a fund, until they can be used for asset acquisition or other fund expenditures, or distributed to unit holders of the fund. Temporary new accounts simplify fund accounting by separating balances intended for inflows or outflows from other balances or assets.
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This glossary post was last updated: 17th November, 2021 | 0 Views.