Which of the Following Observations Is True of Open-End Mutual

Multiple Choice

Which of the following observations is true of open-end mutual funds?

A) They have a fixed number of shares outstanding.
B) The value of shares changes with the demand for the fund by investors.
C) Investors buy and sell shares on a stock exchange.
D) The demand for shares determines the number outstanding.
E) Shares may trade at a premium or discount.