One Difference Between Open-End and Closed-End Funds Is That

question 76

Multiple Choice

One difference between open-end and closed-end funds is that

• A)open-end funds have no maturities,while closed-end funds are dissolved after a given number of years.
• B)shares of an open-end fund are bought and sold directly from or to the fund,while closed-end shares are bought and sold like the shares of any corporation.
• C)open-end shares can be purchased by the general public,while closed-end shares are available only to fund directors.
• D)closed-end funds control and manage open-end funds.

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Definitions:

Verbally

involves the use of spoken words to convey information, instructions, or ideas.

Implied

Suggested or understood without being directly expressed or explicitly stated.

Unlimited Liability

The legal obligation of business owners to bear any and all debts of the business with their personal assets.

Personal Assets

Individual possessions or properties, including money, that belong to a person, not related to business assets.