A Managed Fund That Is Established Under a Trust Deed

question 21

Multiple Choice

A managed fund that is established under a trust deed and is managed by a responsible entity is called a:

• A) mutual fund.
• B) trust fund.
• C) trustee fund.
• D) investment fund.

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Definitions:

Dividends

Dividends are a portion of a company's earnings distributed to shareholders, usually in the form of cash payments or additional shares, reflecting the company's profitability and investment return.

Ledger Account

A record that keeps track of all the transactions related to a particular aspect of a business's finances, such as sales or assets.

Land And Buildings

Assets categorization in accounting, where land refers to the cost of land owned by a company and buildings to the cost of structures situated on the land.

Source Documents

Original records and documents that provide evidence of financial transactions and are the foundation for recording entries in the business’s accounting system.