Which of the following is not the specification of the Sinking Fund?

The correct answer is Option (2) → It can be used in an emergency.

$\text{Sinking Fund is created by setting aside fixed amounts at regular intervals}$

$\text{It is meant for a specific upcoming expense or liability (e.g., bond repayment)}$

$\text{It is usually a fixed term arrangement}$

$\text{It is not intended for emergency use}$

$ \text{The statement “It can be used in an emergency” is not a specification of the Sinking Fund}$