In September 2008, the Reserve Primary Fund, a money market mutual fund, found itself in the situation know as "breaking the buck." This means that
A. they could no longer afford to redeem shares at the par value of $1.
B. they required shareholders to contribute a dollar more in fees each month.
C. shareholders were able to redeem shares for more than a $1.
D. shares earned more than a dollar in interest.
Answer:A
In September 2008, the Reserve Primary Fund, a money market mutual fund, found itself in the situation know as "breaking the buck." This means that
A. they could no longer afford to redeem shares at the par value of $1. B. they required shareholders to contribute a dollar more in fees each month. C. shareholders were able to redeem shares for more than a $1. D. shares earned more than a dollar in interest.