The Phrase "Two and Twenty Shops" Refers to Investment Management

question 8

True/False

The phrase "two and twenty shops" refers to investment management firms having a contract that gives them two percent carried interest and 20 percent of assets annual management fee.

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Definitions:

Land

A natural resource or plot of ground that is owned or controlled and can be used for building, farming, or other purposes.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time, giving a snapshot of its financial condition.

Fixed Asset

A long-term tangible piece of property or equipment that a company uses in generating income and is not expected to be consumed or converted into cash within a year.

Current Asset

A current asset is any asset likely to be converted into cash within a year during the normal course of a business.