Steve Placed a Limit Order to Sell 500 Shares of Stock

question 70

Multiple Choice

Steve placed a limit order to sell 500 shares of stock at $14 a share.Which of the following does Steve know for sure?
I.His order will execute but the time of execution is unknown.
II.His order may never execute.
III.He will receive exactly $7,000 if his order executes.
IV.He could receive more,but not less,than $14 a share.

• A)I and III only
• B)I and IV only
• C)II and III only
• D)II and IV only
• E)I only

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