Which of the following statements about futures contracts is true?

Which of the following statements about futures contracts is true?

Question 14 options:

a)    The seller promises to sell the underlying asset at the agreed price and to deliver on the transaction date.

b)    At the time the contract is signed, the buyer promises to buy, pays the price of the asset, and expects delivery on the exercise date.

c)    The seller is said to be in a short position because he does not necessarily own the underlying asset

d)    A futures contract is essentially two contracts; each on its own is a financial liability.