The term "discretionary" refers to an:
A) order that specifies size, security, or action but leaves the choice of time and price up to the agent.
B) account in which the agent has the power to decide which securities to buy or sell without customer authorization for those specific trades.
C) account in which someone has been given custodial power over another individual's account.
D) account in which a person has power of attorney over an incompetent individual's account.
Answer: B) account in which the agent has the power to decide which securities to buy or sell without customer authorization for those specific trades.