Fitzroy Ltd has the following potential ordinary shares on issue as at 30 June 2009:

\begin{array} { | l | l | l | l | } \hline & \begin{array} { l } \text { Executive options } \\\text { issued 1 July 2006 }\end{array} & \begin{array} { l } \text { Employees options } \\\text { issued 1 July 2007 }\end{array} & \begin{array} { l } \text { Employees options } \\\text { issued 1 July 2008 }\end{array} \\\hline \text { No. of options } & 100000 & 200000 & 150000 \\\hline \text { Exercise price } & \$ 2.80 & \$ 3.10 & \$ 3.30 \\\hline \text { Expiry date } & 30 \text { June 2010 } & 30 \text { June 2012 } & \text { 30 June 2013 } \\\hline\end{array}

The closing price for Fitzroy Ltd shares on 30 June 2009 was $3.35 and the average share price for the period was $3.20.
Which of following statements is correct with respect to the determination of a dilutive security that is in accordance with AASB 133 Earnings per Share?
A) Executive options (issued on 1 July 2006) and employee options (issued on 1 July 2007) are both dilutive.
B) Executive options (issued on 1 July 2006) and employee options (issued on 1 July 2008) are both dilutive.
C) Employee options (issued on 1 July 2007) and employee options (issued on 1 July 2008) are both dilutive.
D) All the potential ordinary shares are dilutive.

According to AASB 133 the Two Factors That Must Be

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