A Mutual Fund Had Average Daily Assets of $4

question 41

Multiple Choice

A mutual fund had average daily assets of $4.0 billion in 2016.The fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year.The fund's turnover ratio is

• A)37.5%.
• B)22%.
• C)15%.
• D)45%.

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Definitions:

Society

An organized group of persons associated together for religious, cultural, political, scientific, or other purposes.

Physiological Adjustments

Changes in the body's internal processes that enable an organism to respond to environmental stressors and maintain homeostasis.

Biological Adjustment

The process by which organisms adapt to changes in their environment or conditions, through physiological modifications or genetic evolution, to maintain homeostasis.

Migration

The movement of people from one geographical area to another, which can involve crossing political boundaries or within the same country, often for reasons like employment, education, or escape from conflict.