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Which of the following statements best describes the legal organization of mutual funds? A) Funds...

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Accounting

Which of the following statements best describes the legal organization of mutual funds?

A) Funds are owned by the company that manages them.

B) A distributor keeps track of investment and redemption requests from shareholders and maintains other shareholder records.

C) Funds are organized as a single entity that handles all functions such as custody and investment decisions.

D) Funds split their basic functions such as record keeping and investment decisions among two or more companies.

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