Margaret is considering an investment in the BCD mutual fund. She noticed in her research that the Net Asset Value (NAV)

[answerhappygod]

Margaret is considering an investment in the BCD mutual fund.
She noticed in her research that the Net Asset Value (NAV) of BCD
has risen from $16.50 per share to $21.25 per share over the past
three months.The possible reason(s) for this increase in NAV of the
BCD mutual fund are:
I. Higher stock prices of the underlying securities
II. Greater number of shares outstanding
III. Increase in liabilities of the mutual fund
IV. Decrease in liabilities of the mutual fund
Group of answer choices
I only
II only
IV only
I and IV
I, II, and III