Crosmane Growth and Income, a financial institution, sells shares to investors. It accumulates the money received from the sold shares to invest in financial instruments such as corporate stocks, corporate bonds, government securities, and other assets. In this scenario, Crosmane Growth and Income represents a _____.
A) mutual fund company
B) credit union
C) commercial bank
D) savings and loan association

Question

Quizplus · Accepted Answer

Crosmane Growth and Income is described as selling shares to investors and using the accumulated funds to invest in various financial instruments, which is characteristic of a mutual fund company.

Crosmane Growth and Income, a Financial Institution, Sells Shares to Investors