Which of the Following Describes a Spot Contract

Multiple Choice

Which of the following describes a spot contract?

A) a contract that creates the right-but not the obligation-to buy or sell a specific amount of a commodity at a fixed price within an agreed-upon period of time
B) a contract in which a commodity is presently sold and the price is presently paid but delivery is, by agreement, delayed to a later date
C) a contract for the immediate sale and delivery of a commodity, such as a currency
D) a promise to buy or sell a commodity for a specified price, with both delivery and payment to be made at a specified future date