On August 8 of This Year, Brent Sold 500 Shares

question 21

Multiple Choice

On August 8 of this year, Brent sold 500 shares of ADO stock for $24 a share. On September 6 of this year, he purchased 500 shares of ADO stock to cover his position. The transaction on August 8:

• A)was a short sale.
• B)was a margin trade.
• C)was a wrap transaction.
• D)created a long transaction.
• E)was a pooling transaction.

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Definitions:

Molecular Formula

A notation showing the types and numbers of atoms in a molecule, without indicating their arrangement.

Ethyl

A functional group or moiety consisting of two carbon atoms and five hydrogen atoms (–C2H5), often derived from ethanol.

Dimethyldodecane

An organic compound structured as a dodecane backbone with two methyl groups attached, used in various chemical contexts.

Alkane

A hydrocarbon compound consisting only of carbon and hydrogen atoms arranged in a tree structure with single bonds.