Multiple Choice
A mutual fund had average daily assets of $2.0 billion in 2003.The fund sold $500 million worth of stock and purchased $700 million worth of stock during the year.The funds turnover ratio is
A) 27.5%.
B) 12%.
C) 15%.
D) 25%.
E) 20%.
Correct Answer:
Verified
Correct Answer:
Verified
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