Money Market Mutual Funds

question 23

Multiple Choice

Money market mutual funds:

• A)must be valued at $1 a share or more.
• B)invest only in certificates of deposit.
• C)produce income that is always tax-exempt.
• D)can provide "triple-tax-free" income.
• E)are insured by the FDIC.

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Definitions:

Factory Equipment

Assets used in a manufacturing or production process, such as machinery and tools.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct labor and direct materials.

Utilities Incurred

Costs accumulated from the consumption of utility services such as electricity, water, and gas.

Selling and Administrative Expense

Combined costs related to the selling of goods and the general administrative activities of a company, excluding production costs.