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Indicate whether each item below would be included in or excluded from the income of the recipient.
a.Payment for laboratory assistant position at University of California State
b.A $1,000 scholarship for tuition
c.College books paid for by grandma and grandpa
d.A $1,000 college loan
e.A scholarship for room and boardf.A new car given to recruit a professional basketball playerg.A scholarship used for supplies and equipment that are required for courses
Back-end Load
A fee paid by an investor when shares are sold, typically used in mutual funds, where the fee decreases over time the investment is held.
Annual Fees
Refers to the yearly charges associated with having an account, typically found in credit cards or investment accounts, to cover account management services.
12b-1 Fees
These are annual fees charged by a mutual fund to cover marketing, distribution, and sometimes administrative expenses, directly reducing the fund's return to its investors.
Management Expenses
These are fees paid out of fund assets to the fund manager for investment management and operational services, including administrative and overhead costs.
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