Conte Investments provides a group ofmutual funds for investors. Its financialstatements show the following: Totalassets: $170,000,000, Total revenues:$80,000,000, Net Income beforeTaxes: $10,000,000. The Planningmateriality set by the auditor is: *O 400,000O 850,000O 425,000O 500,000

Assets:- An assets are considered as the resource having economic values that an individual and firm…

Answered: assets: $170,000,000, Total revenues:…

assets: $170,000,000, Total revenues: $80,000,000, Net Income before Taxes: $10,000,000. The Planning materiality set by the auditor is: 400,000 850,000 O 425,000 500,000

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.12: Madoff Securities

Problem 2Q

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The file MutualFunds contains a data set with information for 45 mutual funds that are part of the Morningstar Funds 500. The data set includes the following five variables: Fund Type: The type of fund, labeled DE (Domestic Equity), IE (International Equity), and FI (Fixed Income) Net Asset Value (): The closing price per share Five-Year Average Return (%): The average annual return for the fund over the past five years Expense Ratio (%): The percentage of assets deducted each fiscal year for fund expenses Morningstar Rank: The risk adjusted star rating for each fund; Morningstar ranks go from a low of 1 Star to a high of 5 Stars. a. Prepare a PivotTable that gives the frequency count of the data by Fund Type (rows) and the five-year average annual return (columns). Use classes of 09.99, 1019.99, 2029.99, 3039.99, 4049.99, and 5059.99 for the Five-Year Average Return (%). b. What conclusions can you draw about the fund type and the average return over the past five years?
● Following results were obtained for the period of six months ending September 2022. Birla Sundaram Sun Nifty Rf Rp 25.38 36.28 45.56 36.74 9.00 Sigma 4.0 6.86 4.31 3.69 Beta 0.23 0.52 0.63 1.00 Using inputs, rank the funds according to the predictive ability of the fund's manager.
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