The Net Asset Value of a Mutual Fund Has Decreased

question 12

Multiple Choice

The net asset value of a mutual fund has decreased from $2,700 on December 31 to $1,330 now. The percent decrease in value is about:

• A) 103 percent.
• B) 1.03 percent.
• C) 0.507 percent.
• D) 50.7 percent.
• E) 5.07 percent.

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Definitions:

Service Revenue

Income earned by a company for providing intangible products or services to customers.

Accounts Receivable

The sum that clients or customers owe to a business for products or services that have been delivered, but not yet compensated for.

Current Liabilities

Financial obligations or debts a company must pay within a year or within its normal operating cycle.

Long-term Liabilities

Financial obligations of a business that are due for repayment more than one year in the future, such as bonds or long-term loans.