Mutual funds that offer limited shares that are not redeemable are referred to as
A) open-end.
B) closed-end.
C) negotiable.
D) nonnegotiable.
B
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Suppose you borrow $1,000 to purchase a car. Which of the following correctly represents the changes in your personal balance sheet after the bank lends the money, but before you spend it?
a. Assets: loan, +$1,000 . Liabilities and net worth: checking deposit, +$1,000 b. Assets: loan, -$1,000 . checking deposit, +$1,000 . Liabilities and net worth: no change c. Assets: loan, +$1,000 . checking deposit, -$1,000 . Liabilities and net worth: no change d. Assets: checking deposit, +$1,000 . Liabilities and net worth: loan, +$1,000 e. Assets: checking deposit, +$1,000 . Liabilities and net worth: loan, -$1,000
A tax loophole is
a. an illegal method by which individuals or corporations avoid paying the taxes they legally owe. b. a provision in the tax code that allows individuals or corporations to reduce their tax burdens legally by meeting certain conditions. c. a tax surcharge on incomes within certain ranges. d. a provision in the tax code that allows individuals or corporations to shift the economic incidence of a particular tax on to someone else.