Q996
Funds which are used as an interest-bearing checking accounts are classified as
A.
money market funds
AnswerB.
capital market funds
C.
money mutual funds
D.
insurance money funds
Answer: Option A
Solution
Answer: Option A
Solution:
Funds which are used as an interest-bearing checking accounts are classified as money market funds. A money market fund is a kind of mutual fund that invests only in highly liquid instruments such as cash, cash equivalent securities, and high credit rating debt-based securities with a short-term, maturity—less than 13 months.