The Reason(s)for the Basis Is/are

Multiple Choice

The reason(s) for the basis is/are:

A) in the spot market, the buyer pays immediately, whereas in the futures market, this payment occurs at the expiry of the contract
B) in the spot market, the ownership of the asset is transferred immediately to the purchaser, which is not the case with the purchase of futures contracts
C) the buyer of an underlying asset faces carrying costs immediately, as opposed to the holder of a futures contract of such an asset
D) all of these choices