A Mutual Fund Had Average Daily Assets of $2

question 77

Multiple Choice

A mutual fund had average daily assets of $2.0 billion in 2003.The fund sold $500 million worth of stock and purchased $700 million worth of stock during the year.The funds turnover ratio is

• A) 27.5%.
• B) 12%.
• C) 15%.
• D) 25%.
• E) 20%.

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Definitions:

Customer Needs

Represents the desires or requirements of consumers that businesses aim to fulfill with their products or services.

Profit Potential

The capacity or possibility for an investment or business venture to generate earnings above its costs.

Parapatric Speciation

Parapatric speciation is the evolution of new species within a spatially extended population that still has some gene flow.

Allopatric Speciation

The evolution of new species after populations have been separated geographically, preventing gene flow between them.