Western States Mutual Fund Sold $89

question 73

Multiple Choice

Western States Mutual Fund sold $89.5 million of assets during the year and purchased $82 million of new assets. The average daily assets of the fund were $273 million. What is the fund's turnover rate for the year?

• A).25
• B).27
• C).30
• D).33
• E)1.07

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Definitions:

Economic Loss

The difference between the cost of inputs and the revenues received from outputs, indicating a negative outcome in financial performance.

Profit-Maximizing Price

The selling price that leads to the highest possible profits for a firm, considering its costs and market demand.

Panel

A group of people gathered to discuss, investigate, or make decisions about a specific subject or issue.

Restaurants

Establishments where food and drinks are prepared and served to customers.