Specialists Are Also Responsible for Balancing Buy and Sell Orders

question 45

True/False

Specialists are also responsible for balancing buy and sell orders at the opening of the trading day in order to arrange an equitable opening price for the stock.

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Definitions:

Note Receivable

A written promise that one party will receive a certain amount of money from another party at a future date, categorized as an asset.

Honoured

In financial terms, referred to a cheque or payment that has been accepted and processed by the bank.

Adjusting Entries

Journal entries made in accounting to update the records for accruals and deferrals that have not been recorded through regular financial transactions.

Calendar-year

A one-year period that starts on January 1 and ends on December 31, used in financial reporting and tax calculations.