Mutual funds O A pay federal income taxes B) distribute earnings to receive favorable tax treatment C) pay only state and local taxes D) pay taxes only on capital gains The net asset value A) is the price of an investment company's shares B) is reduced by the loading fee C) declines if the value of the fund's assets are reduced D) measures the quality of the fund's management Investments in investment companies reduce A) interest rate risk B) market risk C) systematic risk D) unsystematic risk