On October 12, Kevin Placed a Day Order to Purchase

question 53

Multiple Choice

On October 12, Kevin placed a day order to purchase 100 shares of ABC stock at $21 a share. During the day, the shares sold at prices ranging from $21.01 to $22.49. Over the following month the shares sold in a range of $21.60 to $23.05. On December 2, the market declined radically and the price of ABC shares dropped to $19.94. Which one of the following statements is correct concerning Kevin's order?

• A) The order was executed at $19.94.
• B) The order was executed at $21.01 per share.
• C) The order was executed at $22.49.
• D) The order was never executed.

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Definitions:

Scientific Experimentation

The systematic investigation of scientific theories and hypotheses through controlled testing and observation.

Background Research

The process of gathering existing information and data on a specific topic, to understand prior developments and inform new inquiries or hypotheses.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

Prototype

An early sample, model, or release of a product built to test a concept or process.