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Bubba Maintains an Individual Cash Account as Well as a Joint

Question 220

Multiple Choice

Bubba maintains an individual cash account as well as a joint account with his wife, Bubbette. While Bubba is out of town on a fishing trip, Bubbette calls the brokerage firm with an order to buy 100 shares of Great Company, Inc., at the market value for Bubba individual account. It is a stock Bubba has previously informed the brokerage he wanted to buy at the "right price". What does the brokerage do?


A) refuse to accept the order unless Bubba has provided a signed trading authorization in favor of Bubbette
B) execute the order as requested
C) enter the order only after receipt of written instructions to do so from Bubba
D) buy the stock in the joint account and, after verification from Bubba, journal the security to his individual account

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