Q.The term "fund" refers to :

"Fund" in the financial sense = working capital = current assets − current liabilities. Option (d).

The word "fund" can mean cash, or the whole of resources, but in its accepted financial sense it means working capital:

$\text{Working Capital} = \text{Current Assets} - \text{Current Liabilities}$

• Fixed assets, non-current assets and current liabilities are only components, not the meaning of "fund". …