Suppose you own a mutual fund which has 12,000,000 shares outstanding. If its total assets are $24,000,000 and its liabilities are $8,000,000, find the net asset value of the fund. (Round your answer to the nearest cent if necessary)
$1.33 per share
You might also like to view...
Which accounts are closed at the end of the accounting period? Why is it necessary to close these accounts?
What will be an ideal response
If a firm increases the proportions of debt and preferred stock that are contained in its capital structure, its _____.
A. financial risk will increase B. business risk will decrease C. tax liability will increase D. operating leverage will decrease E. financial leverage will decrease
In the context of the trends in technology, communication, and innovation, the creation of a digital framework:
A. made business communication vastly more expensive. B. made the microprocessor obsolete. C. required satellites for all forms of communication. D. allowed high-power computer performance at low cost.
Shade Tree Lending Corporation advertises loans as fixed-rate loans but, in fact, their rates or payment amounts will change. This is
A. a legal and ethical¾but morally arguable¾financial ruse. B. a legal¾but unethical¾business practice. C. a necessary tactic to generate a profitable loan in today's market. D. a violation of the law.