The Investment Company Act of 1940 allows a majority vote of outstanding shares of a registered investment company to authorize the fund to:
I. borrow money from a commercial bank.
II. invest funds in securities consistent with the fund's objectives.
III. change the objectives of the fund.
IV. change the nature of its business and cease to be an investment company.
A) II and III.
B) I, II and III.
C) I, III and IV.
D) I only.
Answer: C) I, III and IV.