The High Yield Money Market Fund Returned 5

question 42

Multiple Choice

The High Yield Money Market Fund returned 5.75 percent for the last year. Currently, you own 9,042.08 shares of this fund. If you invested in this fund one year ago, what was the amount of your original investment?

• A) $8,350.00
• B) $8,402.38
• C) $8,550.43
• D) $8,750.00
• E) $9,650.03

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Definitions:

Inventory Errors

Mistakes in the counting, recording, or valuation of inventory, which can lead to inaccuracies in financial statements.

Self-correct

The process of identifying and rectifying mistakes or errors in a document, data set, or system without external intervention.

LIFO Inventory Cost Method

An inventory valuation method that assumes the last items placed in inventory are the first sold during an accounting period; stands for Last-In, First-Out.

Recent Costs

refer to the latest expenses incurred by a company, highlighting the most up-to-date financial outlays for operations or projects.