A Mutual Fund Is a Means by Which Investors with Only

question 18

True/False

A mutual fund is a means by which investors with only a small amount of money can invest in a portfolio of securities.

---

Definitions:

Liability

The state of being legally responsible for something, particularly for debts or legal obligations.

Intermediary Bank

A financial institution that acts as a middleman between a payer's and a payee's banks, especially in international wire transfers.

Check Collection

The process of a bank or other financial institution obtaining the funds promised in a check from the check writer's bank.

Transferred

The act of moving or being moved from one place, position, person, or organization to another.