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Which of the following is incorrect about futures contracts: None of the answers. ...

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Question

Accounting

Which of the following is incorrect about futures contracts:

None of the answers.

"A futures contract is a contract to buy or sell an agreed quantity of a particular item, at an agreed price, on a specific date"

The loss on a futures contract is limited to the amount paid for the contract.

Futures contracts can be traded on an exchange.

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