1. What are the mutual funds and also discus dividend? Explain Briefly.
2. A father has 2 sons, Mike is 19 years old and the Adam is 14, he gave each of them 5,000 to invest in mutual funds which they got $50 dividend from the mutual funds
   1. The Father will report the $100 dividend in his tax return
    
   2. Mike will report the $50 dividend in his tax return and the father will report $50
    
   3. Each child will report the 50$ in their own tax return
    
   4. Mike will report the $100 on his tax return.

Answer rating: 100% (QA)

Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversif... View the full answer