Sam placed a limit order to sell 500 shares of stock at $14 a share. Which of the following does Sam know for sure?
I. His order will execute but the time of execution is unknown.
II. His order may never execute.
III. He will receive exactly $7,000 if his order executes.
IV. He could receive more, but not less, than $14 a share.
A)I and III only
B)I and IV only
C)II and III only
D)II and IV only
E)I only

Question

Quizplus · Accepted Answer

The Answer of Sam placed a limit order to sell 500 shares of stock at $14 a share. Which of the following does Sam know for sure?
I. His order will execute but the time of execution is unknown.
II. His order may never execute.
III. He will receive exactly $7,000 if his order executes.
IV. He could receive more, but not less, than $14 a share.
A)I and III only
B)I and IV only
C)II and III only
D)II and IV only
E)I only

Sam Placed a Limit Order to Sell 500 Shares of Stock