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:

Eardrum

A thin membrane that separates the outer ear from the middle ear and vibrates in response to sound waves.

Bulging

The act of swelling, protruding, or sticking out beyond the usual surface level, often indicative of an underlying condition or pressure buildup.

Palpate

The technique of examining parts of the body by touch, especially for medical purposes to detect abnormal conditions.

Abdominal Pain

A discomfort or pain felt anywhere in the region between the chest and the groin.