Which one of the following statements is NOT true?
A) In a competitive sale, the firm specifies the type and amount of securities it wants to sell.
B) In a negotiated sale, the issuer selects the underwriter at the beginning of the origination process.
C) In a general cash offer, management must decide whether to sell the securities on a competitive or a negotiated basis.
D) For equity securities, competitive sales generally provide the lowest-cost method of sale.
Answer: D
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.