The reasons for the existence of mutual funds are the following exceptA mutual funds can compete directly with commercial banks in offering their productsB mutual funds allow their clients to invest p

A. mutual funds can compete directly with commercial banks in offering their products

This statement is incorrect as mutual funds and commercial banks are different types of financial institutions that offer different products and services. Mutual funds primarily focus on investment products, while commercial banks provide a range of banking services such as loans, deposits, and other financial products. Therefore, mutual funds and commercial banks do not directly compete with each other in offering the same products