Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following statements is correct regarding a closed-end fund?

Shares of a closed-end fund are traded on stock exchanges and their price may differ from the net asset value (NAV).

Closed-end funds continuously issue and redeem shares at the fund's NAV.

Closed-end funds are required to invest only in government securities.

Investors can only purchase shares of a closed-end fund directly from the fund company at any time.

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Verified step by step guidance

Understand the concept of a closed-end fund: A closed-end fund is a type of investment fund that issues a fixed number of shares, which are then traded on stock exchanges. Unlike open-end funds, closed-end funds do not continuously issue or redeem shares.

Clarify the trading mechanism: Shares of closed-end funds are bought and sold on stock exchanges, and their market price can differ from the net asset value (NAV) due to supply and demand dynamics.

Evaluate the first statement: 'Shares of a closed-end fund are traded on stock exchanges and their price may differ from the net asset value (NAV).' This aligns with the definition of closed-end funds and is correct.

Analyze the second statement: 'Closed-end funds continuously issue and redeem shares at the fund's NAV.' This is incorrect because closed-end funds do not continuously issue or redeem shares; they have a fixed number of shares traded on exchanges.

Review the third and fourth statements: 'Closed-end funds are required to invest only in government securities' and 'Investors can only purchase shares of a closed-end fund directly from the fund company at any time.' Both are incorrect because closed-end funds can invest in a variety of assets, and shares are traded on exchanges, not directly purchased from the fund company.