The current market value of all the securities a mutual fund owns, less any liabilities, on a per-share basis is known as the fund’s:
A. compounded value.
B. par value.
C. net asset value.
D. book value.
E. liquidation value.
Answer: C
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What role does each of the following departments play in the cash receipts subsystem: mail room, cash receipts, accounts receivable, and general ledger? Be complete
Which of the following sentences illustrates passive voice?
a. The cashier made five errors. b. Nathan had been in sales for five years. c. He asked for an adjustment. d. The report was completed by the entire team.
In 1996, Mr. Exton, a single taxpayer, contributed $30,000 in exchange for 100 shares of Morton stock. In 2005, he paid $43,000 to another shareholder to purchase 100 more shares of Morton stock. Morton stock qualified as Section 1244 stock when it was issued. This year, Mr. Exton sold his 200 Morton shares for $250 per share. What is the amount and character of Mr. Exton's recognized loss?
A. $3,000 long-term capital gain and $30,000 ordinary loss B. $5,000 ordinary loss and $18,000 long-term capital loss. C. $23,000 ordinary loss D. $23,000 long-term capital loss
Brandon orally assigned his right to $100 from a lawn mowing contract to Will as a gift. This assignment is
A. not valid because it was not in writing. B. valid even though it was oral and there was no consideration from Will. C. irrevocable once Brandon has told Will about the gift. D. not valid because Will gave no consideration for the assignment.