A mutual fund had average daily assets of $3.0 billion in 2016. The fund sold $600 million worth of stock and purchased $700 million worth of stock during the year. The fund's turnover ratio is
A. 27.5%.
B. 12%.
C. 15%.
D. 25%.
E. 20%.
A. 27.5%.
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A general ledger account that is supported by a subsidiary ledger is called a(n)_____________
Fill in the blank(s) with correct word
Ronn Industries Ronn Industries reported net income of $95,000 for 2012. Early in 2013, Ronn discovered that its 2012 ending inventory was overstated by $5,000. Refer to the information provided for Ronn Industries. Determine the financial statement effects of the inventory error for 2013
A) Expenses will be understated and net income will be overstated. B) Expenses will be overstated and net income will be understated. C) Both expenses and net income will be overstated. D) Both expenses and net income will be understated.
In a factoring arrangement, the bank lends the business money using inventory as collateral.
Answer the following statement true (T) or false (F)
Which of the following is an example of regional convergence?
A. Organization of the Petroleum Exporting Countries (OPEC) B. European Union (EU) C. North American Free Trade Agreement (NAFTA) D. Association of South East Asian Nations (ASEAN) E. All of these are examples of regional convergence.