Close-ended funds have lower cash requirements than open-end funds because ____.
A. the close-ended fund has limited lifetimes
B. open-ended funds pay more taxes than closed-ended funds
C. open-ended funds tend to invest in less liquid assets
D. open-ended funds allow investors to redeem their shares at any time
Answer:D
Close-ended funds have lower cash requirements than open-end funds because ____.
A. the close-ended fund has limited lifetimes B. open-ended funds pay more taxes than closed-ended funds C. open-ended funds tend to invest in less liquid assets D. open-ended funds allow investors to redeem their shares at any time