Diversified Portfolios Had Year-End Assets of $279,000,000 and Liabilities of $43,000,000

question 62

Multiple Choice

Diversified Portfolios had year-end assets of $279,000,000 and liabilities of $43,000,000. If Diversified's NAV was $42.13, how many shares must have been held in the fund?

• A) 43,000,000
• B) 6,488,372
• C) 5,601,709
• D) 1,182,203

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Definitions:

TR

Total Revenue; the total receipts from sales of goods or services provided by a company before any deductions are made.

TVC

Total Variable Cost; the total of all costs that vary with the level of output produced by a company.

Economic Loss

A monetary reduction in income, net worth, or value of assets beyond normal expectations, often as a result of business activities or economic policies.

Price

The amount of money required to purchase a good or service, determined by factors such as supply and demand.