Mutual funds pass their expenses on to their shareholders. _____ is a flat basis point fee assessed against the net assets of the fund and is awarded to the portfolio manager and mutual fund company. The ____ is part of the funds annual expenses intended to cover administrative and marketing expenses.

A) The management expense; 12b-1 fee

B) The operating expense; 12b-1 fee

C) The sales load; contingent sales charge

D) The operating expense; sales load