You just purchased a share of IBM stock on the New York Stock Exchange. What kind of transaction was this?

Question:

You just purchased a share of IBM stock on the New York Stock Exchange. What kind of transaction was this?

a. Primary market transaction.

b. Secondary market transaction.

c. Futures market transaction.

d. Private placement.

Answer:

b. (The secondary market is the one in which owners of outstanding securities sell their securities to other investors.)

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