Questions: Which of the following is not a true statement about mutual funds? A. All have the same investment goals. B. All have a management expense ratio. C. All require a minimum investment. D. The calculation of net asset value is the same.

The answer is A: All have the same investment goals.

Explanation for each option:

A. All have the same investment goals.

• This statement is not true. Mutual funds can have a wide variety of investment goals, such as growth, income, balanced, or sector-specific objectives. Each mutual fund is designed to meet specific investment goals, which can vary significantly from one fund to another.

B. All have a management expense ratio.

• This statement is true. All mutual funds have a management expense ratio (MER), which represents the annual cost of managing the fund, expressed as a percentage of the fund's average net assets.

C. All require a minimum investment.

• This statement is generally true. Most mutual funds require a minimum initial investment, although the amount can vary depending on the fund.

D. The calculation of net asset value is the same.

• This statement is true. The net asset value (NAV) of a mutual fund is calculated in a standardized way: by dividing the total value of the fund's assets minus its liabilities by the number of outstanding shares.

In summary, the statement that is not true about mutual funds is that all have the same investment goals.