Mutual funds that purchase Treasury bills, bank negotiable certificates of deposit, commercial paper, and other short-term securities would be classified as

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Mutual funds that purchase short-term securities such as Treasury bills and commercial paper are typically classified as money market funds. These funds invest in low-risk, short-term securities and aim to provide investors with stable, low-risk returns comparable to those of a money market account.

Mutual Funds That Purchase Treasury Bills, Bank Negotiable Certificates of Deposit