Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'business day modified preceding'?

A. convention specifying that a non-business date will be adjusted to the nearest day that is a business day -- i.e. if the non-business day falls on any day other than a Sunday or a Monday, it will be the first preceding day that is a business day, and will be the first following business day if it falls on a Sunday or a Monday
B. convention specifying that a non-business date will be adjusted to the first preceding day that is a business day unless that day falls in the previous month, in which case that date will be the first following day that is a business day
C. convention specifying that a date will be adjusted to the first previous day that is a business day
D. convention specifying that a non-business date will be adjusted to the first following day that is a business day

Answer: convention specifying that a non-business date will be adjusted to the first preceding day that is a business day unless that day falls in the previous month, in which case that date will be the first following day that is a business day