You Can Make Sure That Your Mutual Fund Account Passes

question 89

Multiple Choice

You can make sure that your mutual fund account passes to your desired heir by completing a ________ when you open your account.

• A)switching privilege
• B)systematic pass through
• C)open-end designation
• D)beneficiary designation

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Definitions:

Asset

A valuable economic entity held or overseen by an individual, business, or state, expected to bring about future advantage.

Sales

The total revenue generated from the sale of goods or services over a specific period.

Revenue Account

An account that tracks the income earned from normal business operations, such as sales of goods or services.

Sales Tax Payable

A liability account in a company's financial statements, representing sales tax collected from customers but not yet remitted to the government.