A Mutual Fund Had Average Daily Assets of $2

question 35

Multiple Choice

A mutual fund had average daily assets of $2.0 billion in 2018. The fund sold $500 million worth of stock and purchased $600 million worth of stock during the year. The fund's turnover ratio is

• A) 27.5%.
• B) 12%.
• C) 15%.
• D) 25%.
• E) 20%.

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Definitions:

Tax-Deductible

A portion of expenses that can be subtracted from gross income to reduce taxable income.

Discriminatory

Refers to unfair treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured, offering protection against high unexpected healthcare costs.

Third-Party Payments

Payments made by someone other than the consumer or provider of a good or service, often by insurance companies or government agencies.