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NEW QUESTION: 1
What is represented by the net investment income of an open-end investment company?
A. dividends, interest, and net gains on sales of securities
B. net gains on sales of portfolio securities
C. net profits from the investment company operation
D. net income from dividend and interest paid on securities in the fund portfolio
Answer: D
Explanation:
net income from dividend and interest paid on securities in the fund portfolio. This is the
definition of net investment income, which excludes gains on sales of securities.

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