[Partha Sarker]

This aromatic compound which name is Phenol,has a -OH group. It's another name is Carbolic Acid. But it has no -COOH group.

Then why it is called Carbolic Acid??

[Borek]

Acid is not a synonym of a "carboxylic acid". Acid means a substance that dissociates producing H⁺ and lowering pH of the solution.

[Partha Sarker]

Acid is not a synonym of a "carboxylic acid". Acid means a substance that dissociates producing H⁺ and lowering pH of the solution.

Oh! what happens when Phenol is mixed with water(chemical reaction please) and is there any other alcohol which does the same thing

[Arkcon]

Here's a thorough description:  http://en.wikipedia.org/wiki/Phenol#Properties

[Hunter2]

Aromatic Hydroxy compounds act acidic. The name carbolic acid  comes because Phenol was first obtained by distillation of coal. 

[AdiDex]

Basically you should know what an acid do in a reaction -

1. It can gives (Donate) H+ Ion ( A proton ).

2. It can accept an Electron.

And just remember that -
In general , A Neutral molecule consisting of Hydrogen which is connected with a electronegative atom is acidic in nature. ( As in case of Phenol , H is connected with O )