On October 12, Kevin placed a day order to purchase 100 shares of ABC stock at $21 a share. During the day, the stock sold at prices ranging from $21.01 to $22.49
Over the following month the stock sold in a range of $21.60 to $23.05. On December 2, the market declined radically and the price of ABC stock dropped to $19.94. Which one of the following statements is correct concerning Allen's order?
A) The order was never executed.
B) The order was executed at $21.01 per share.
C) The order was executed at $22.49.
D) The order was executed at $19.94.
Answer: A
You might also like to view...
All of the following are nontrade receivables except
A) declared dividend from an investment. B) advances to executives and employees. C) promissory note from a customer. D) deposit paid to utility companies.
Which of the following is the main reason many experts believe that relying on customers for new products, particularly true innovations, is doomed to failure?
A) Customers have limited ability to see into the future and conceptualize what could be. B) Customers would be biased and would want only inexpensive products. C) Customers don't have the time to think about new products. D) Customers might share the same new product ideas with competitors.
The balance needed in an account in order to make a series of payments from the account is called the
A) present value of an ordinary annuity. B) annuity due. C) future value of an annuity. D) ordinary annuity.
What is the rate of return on an investment of $16,278 if the company expects to receive $3,000 per year for the next 10 years?
A) 18 percent B) 13 percent C) 8 percent D) 3 percent