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NEW QUESTION: 1
Under provisions of _________________ it is provided that the profits and gains of business of a private trust is chargeable to income tax at the maximum marginal rate with effect from Assessment Year 1985-1986.
A. Section 161 (1A)
B. Section 161 (4A)
C. Section 164 (4A)
D. Section 164 (1A)
Answer: D
NEW QUESTION: 2
i2 customers come from many different industries. Which of the following are potential concerns for i2 prospects?
A. Anti Money Laundering
B. CyberCrime
C. All of the above
D. Counterfeit
Answer: C
Explanation:
i2 developed software products for visualisation and analysis of disparate data sources to aid criminal investigation, and which were later also used by other branches of government (including anti-terrorism, military intelligence and defence), as well
as commercial fraud.
*i2 solutions allow investigators toInvestigate and disruptfraud including anti-money
laundering.
* IBM i2 solutions can help detect, prevent and stop counterfeiters.
NEW QUESTION: 3
Which of the following correctly describes a difference between closed-end and open-end investment
companies?
A. Open-end investment company shares will never be offered at a price below the net asset value per
share of the fund; this is not true of closed-end companies.
B. Shares of open-end companies sell on exchange floors; shares of closed-end companies are bought
and sold through the company itself.
C. Open-end investment companies have a fixed number of shares; closed-end companies can create
new shares if there are more buyers than sellers.
D. Open-end companies may invest in non-diversified portfolios; closed-end companies are required to
invest only in diversified portfolios.
Answer: A
Explanation:
A difference between closed-end and open-end investment companies is that open-end
investment company shares will never be offered at a price below the net asset value of the fund; this is
not true of closed-end companies. The shares of open-end investment companies (mutual funds) are
bought (and sold) through the company itself at net asset value or net asset value plus a load charge.
Therefore, the offer price will always be greater than or equal to the fund's net asset value per share.
Closed-end company shares are bought and sold on exchange floors, and the price is set by supply and
demand, so closed-end shares may sell for less than the net asset value of the fund. Closed-end
companies have a fixed number of shares. Open-end companies can create new shares if there are more
buyers than sellers. Both types of management companies can be either diversified or non-diversified in
their holdings.