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Consider the following statements regarding futures contracts that may be settled by delivery: (1) The long initiates the delivery process (2) The short can choose

Consider the following statements regarding futures contracts that may be settled by delivery: (1) "The long initiates the delivery process" (2) "The short can choose when and how to settle the futures contracts"

Both are correct

Both are wrong

(1) is correct and (2) is wrong

(1) is wrong and (2) is correct

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