Sarah has a brokerage account with Jeff, who is a money manager with Downtown Brokers. Sarah pays an all-inclusive annual fee to the firm and Jeff manages her funds. She pays no trading costs or commissions. Which one of the following best describes this type of account?
A. mutual
B. advisory
C. wrap
D. margin
E. cash
Answer: C
You might also like to view...
When using the Spreadsheet (work sheet) method to analyze noncash accounts, it is best to start with
a. cash b. net income c. retained earnings d. revenue
Joint costs may be allocated to by-products as well as primary products
Indicate whether the statement is true or false
A limited partnership requires
a. statutory permission. b. at least one general and one limited partner. c. a proper certificate to be filed. d. all of these.
Maverk, a human resources manager at a multinational company, has to explain the ethical policies of the company to a batch of new employees. To convey that the company has a low power distance, he says, "The manager who loses his temper must apologize." From the given statement, it can be inferred that Maverk does not follow the business communication guideline of _____.
A. being concise B. avoiding bias C. avoiding slang D. analyzing one's audience