The purpose of a revolving savings fund is to
A)save for long-term goals.
B)accumulate funds for large, irregular expenses.
C)meet occasional deficits.
D)both accumulate funds for large, irregular expenses and meet occasional deficits.

Question

Quizplus · Accepted Answer

A revolving savings fund is designed to accumulate funds for large, irregular expenses such as home repairs, car maintenance, or medical bills, but it can also be used to meet occasional deficits. Its purpose is to have a pool of money that can be accessed as needed throughout the year. Therefore, both options (B) and (C) are correct.

The Purpose of a Revolving Savings Fund Is to