Which One of the Following Statements About Limit Orders Is

Multiple Choice

Which one of the following statements about limit orders is correct?

A) The trade may be executed only at the limit price or better at any time prior to expiration or cancellation of the order.
B) The execution of the trade will occur prior to the close of trading on the day the trade is placed.
C) The execution will occur at the regular open on the day following the day the trade is placed.
D) The trade will be executed at the market price at the end of the third business day, if not executed previously at the limit price.