A Mutual Fund Had Year-End Assets of $465,000,000 and Liabilities

question 54

Multiple Choice

A mutual fund had year-end assets of $465,000,000 and liabilities of $37,000,000.If the fund NAV was $56.12,how many shares must have been held in the fund?

• A)4,300,000
• B)6,488,372
• C)8,601,709
• D)7,626,515
• E)None of the above.

Understand the concept of discharge by performance and how it applies to fulfilling contractual obligations.

Identify and describe various conditions (precedent, subsequent, concurrent) that can affect the performance of contractual duties.

Recognize how parties are discharged from their obligations either through performance, failure of a condition, or operation of law.

Understand the concept of tender as an offer of performance and its significance in contracts.

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Definitions:

Sellers

Market participants involved in providing goods or services for purchase, playing a key role in the supply side of the economy.

Equilibrium Price

The market price at which the quantity demanded equals the quantity supplied, leading to a stable market condition.

Price Floor

A government- or authority-set minimum price for a particular good or service, designed to protect producers.

Airline Tickets

Certificates issued by airlines that confirm a passenger's booking and are exchanged for a boarding pass to travel on an airplane.