Sales of telephones have increased dramatically over the last year. In order to take advantage of this increase, Mammoth Industries plans to expand production of its own model of telephone, while continuing its already very extensive advertising of this product.

Which of the following correctly describes a repurchase agreement? the sale of a security with a commitment to repurchase the same security at a specified future date and a designated price. the sale of a security with a commitment to repurchase the same security at a future date left unspecified, at a designated price. the purchase of a security with a commitment to purchase more of the same security at a specified future date.