You Redeem Your Shares in an Open-End Mutual Fund by Selling

question 115

True/False

You redeem your shares in an open-end mutual fund by selling them to another investor.

---

Definitions:

Federal Income Taxes

The taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Operating Cycle

The average time period between purchasing or acquiring inventory and receiving cash from sales of the inventory.

Existing Current Assets

Current assets that have been on a company's balance sheet for an extended period and include cash, accounts receivable, inventory, and other short-term assets.

Voluntary Deductions

Optional deductions from an employee's paycheck, such as for health insurance or retirement savings plans.