A Nontraditional Type of Mutual Fund Formed as a Partnership

question 22

Multiple Choice

A nontraditional type of mutual fund formed as a partnership of up to either 99 or 499 wealthy investors with large minimum investments is a

• A)hedge fund.
• B)wealthy-only fund.
• C)fund of funds.
• D)real estate investment trust.

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Definitions:

Insurance Expense

The cost incurred by a company to obtain insurance coverage, recognized as an expense over the period the insurance coverage is applicable.

Sales Receipt

A document that provides proof of a sales transaction, detailing the goods or services purchased and the amount paid.

Rental Contract

A legal agreement between a landlord and tenant detailing the terms and conditions for renting property or equipment.