NAV = (Market Value of All Securities Held by Fund + Cash and Equivalent Holdings - Fund Liabilities) / Total Fund Shares Outstanding.
Let's assume at the close of trading yesterday that a particular mutual fund held $10,500,000 worth of securities, $2,000,000 of cash, and $500,000 of liabilities. If the fund had 1,000,000 shares outstanding, then yesterday's NAV would be:
1 take higher from GAV & fair rent
2 compare above answered amount with standard rent & take
3 abve answered amount compared with rent received or
receivable take higher amount & that is NAV
EX 1 GAV 10000 fair rent 7000 then higher 10000
2 above higher amount 10000 standard rent 11000 take
lower amount 10000
3 above lower amount 10000 rent received 15000
take higher amount 15000 that is your amount of NAV
I am a Tax Practioner Prepared 6 sets of Interview
questions with answer books.Is there any body need them.
All the questions related to Accounts and Taxation. Regular
users of this site are utilising the chance.
Choose the correct answer:
In case of assesses other than companies, the following is
advance tax rate to be payable on or before of 15th
September on the current fringe benefits. (1) 15 per cent;
(2) 30 per cent;
(3) 45 per cent;
(4) 60 per cent.