The Investments in the Alamo Basics Contingency Fund Have a Current

question 25

Multiple Choice

The investments in the Alamo Basics Contingency Fund have a current market value of $800 million. The fund also has liabilities that total $60 million. If this mutual fund has 20 million shares, what is the net asset value per share?

• A) $3.00
• B) $37.00
• C) $40.00
• D) $43.00
• E) $60.00

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Definitions:

Contract

A legally enforceable agreement between two or more parties with mutual obligations.

Bilateral Contract

A contract involving mutual obligations, where each party is both a promisor and a promisee.

Unilateral Contract

A contract in which one party makes a promise in exchange for the other party's performance of a specific task, rather than a promise in return.

Statute of Limitations

A law that sets the maximum time after an event within which legal proceedings may be initiated.