A Limit Order Is an Order to a Broker to Buy

question 13

True/False

A limit order is an order to a broker to buy a specific stock within a specific timeline. This allows the investor to confirm purchases are made by the end of the specified trading day.

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Definitions:

SEC

Securities and Exchange Commission, an independent federal agency responsible for enforcing federal securities laws and regulating the securities industry and stock and options exchanges in the United States.

International Accounting Standards

A set of older accounting standards that were replaced by IFRS, previously developed by the International Accounting Standards Committee (IASC) to guide financial reporting internationally.

FIFO

First In, First Out, an inventory valuation method where the first items produced or acquired are the first ones to be expelled from inventory.

LIFO

"Last In, First Out," an inventory valuation method assuming the last items placed in inventory are the first sold.