Which statements regarding the auction instrument are true?

The choice that states that orders and quotes can be entered is indeed accurate. In the context of an auction instrument, market participants are able to place their buy and sell orders into the auction, contributing to the overall liquidity and price discovery process. This functionality allows traders to submit their intentions regarding market positions, helping to create a more competitive environment.

The auction process is designed to gather and match these inputs, facilitating the determination of an equitable price at which trades can occur. Thus, the ability to enter orders and quotes is a fundamental aspect of how auctions operate in trading environments.

In contrast, statements regarding the closing auction being conducted for all products, the publication of a potential auction price, or that orders and quotes cannot be modified include nuances that may not apply universally across all auction instruments or may misrepresent typical practices involved. Each of these aspects can vary based on specific market rules or conditions.