Fred purchased a futures contract on live cattle through Broker A. After purchasing the contract, Fred moved his investments to Broker B. During the transition, the contract on the cattle was forgotten. When the delivery date for the futures contract arrived,
A) Fred took delivery of live cattle.
B) Broker A had to pay for the cattle so that they would not be delivered to Fred.
C) the futures contract was not exercised.
D) the cattle were not delivered because Fred did not ask for them.
Correct Answer:
Verified
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