Which of the Following Is Not a True Statement About

question 16

Multiple Choice

Which of the following is not a true statement about mutual funds:

• A)All have a minimum investment required.
• B)All have the same investment goals.
• C)The calculation of net asset value is the same.
• D)All have a management expense ratio.

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Definitions:

FIFO Estimate

An accounting technique, "First In, First Out," estimating the value of inventory or assets on the assumption that the first items acquired are the first ones to be used or sold.

LIFO Inventory

An inventory valuation method where the last items to enter inventory are the first ones to be used or sold.

Periodic Inventory

An inventory accounting system where the inventory is updated and the cost of goods sold is calculated at the end of a period instead of after each sale.

Inventory Balance

Refers to the total value of all inventory a business has in stock at a specific point in time, including raw materials, work-in-progress, and finished goods.