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12. When an underwriting syndicate purchases an entire issue ofnew securities and accepts the risk of unsold shares, theunderwriting is known as a _____ underwriting.
12.
When an underwriting syndicate purchases an entire issue ofnew securities and accepts the risk of unsold shares, theunderwriting is known as a _____ underwriting.
A.
Dutch auction
B.
full-fledge
C.
firm commitment
D.
best efforts
E.
guaranteed sale
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Financial Theory and Corporate Policy
Authors: Thomas E. Copeland, J. Fred Weston, Kuldeep Shastri
4th edition
321127218, 978-0321179548, 321179544, 978-0321127211
