On March 15, Marcos Placed a Good-'Til-Canceled Order to Buy

question 73

Multiple Choice

On March 15, Marcos placed a good-'til-canceled order to buy 200 shares of ABC at $10 a share.ABC sold between $10.50 and $11.00 on that day.Over the following two months the stock price continued to rise and Marcos forgot about the order.After the markets closed on June 6, some bad news concerning ABC was released.The stock opened on June 7 at a price of $8.00 a share.Which one of the following statements is correct concerning Marcos' order?

• A)The order was cancelled on May 15 because it had not been executed within the allowable two-month time period.
• B)The order was executed on March 15 at $10.50 a share since that was the best available price of the day.
• C)The order was executed on June 7 at a price of $10.00 a share.
• D)The order was executed on June 7 at a price of $8.00 a share.

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