With regard to mutual funds and variable annuities, all of the following are true statements except: (a) both are subject to market risk (b) both are long-term investments (c) both have tax deferred earnings (d) both generally provide active professional investment management

(C) Both have tax deferred earnings

Explanation:

 The mutual funds and the variable annuities are both considered as the long term investment in the market and both are liable to the market chance. In the variable annuities, the mutual funds earnings are not basically tex deffered.

Although the variable annuity and funds are the also considered as the index funds and also provide the portfolio management which are active. Not one or the other "go through" increases and loss for the tax purposes.

Therefore, All the options are true regarding the mutual funds and the variable annuities except option (C).

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united states government;