Name: IFC
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Question 1

At the close of business, Great Lengths Equity Fund had total assets of $135 million and total liabilities of $10 million. They had 11 million units outstanding. In addition, their current assets totalled $13 million and current liabilities were $3 million. Which of the following statements regarding Great Lengths Equity Fund's net asset value per unit (NAVPU) is correct?

A. The NAVPU is the total liabilities divided by the number of outstanding units.
B. Current assets and current liabilities are used in the NAVPU calculation.
C. There is not enough information available to calculate the NAVPU.
D. Great Lengths Equity Fund's NAVPU is $11.36.

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