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32. What is the key factor that distinguishes an offer for sale from an offer for subscription? a. An offer for subscription is always at

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32. What is the key factor that distinguishes an offer for sale from an offer for subscription? a. An offer for subscription is always at a lower price. O b. An offer for subscription is only made to existing shareholders. An offer for subscription is only made through intermediaries. O d. An offer for subscription is only partially underwritten. O c

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