The Seller of a Futures Contract

question 26

Multiple Choice

The seller of a futures contract

• A)assumes the short position.
• B)assumes the long position.
• C)has the obligation to receive the underlying financial instrument at the specified future date.
• D)is expecting the price of the underlying financial instrument to rise.

Recognize the role of innovation and creativity in entrepreneurship.

Identify the characteristics of successful entrepreneurs and entrepreneurial educators.

Understand the importance of a long-term perspective and adaptability in entrepreneurship.

Analyze the role of entrepreneurship in social and economic equality.

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Definitions:

Irrevocable Living Trust

A type of trust that cannot be modified or terminated without the consent of the beneficiary, typically used for estate planning to avoid probate and reduce taxes.

Legal Title

The formal right of ownership to property, recognized and protected by law.

Administer

To manage or direct the execution of affairs, the application of substances, or the carrying out of certain actions.

Probate

The legal process of validating a will and distributing a deceased person's assets under supervision.