Cash available from operations after the firm pays for investments (in operating working capital and fixed assets) is called:

A. Underwriting is the process of purchasing and selling of a new security issue by an investment banker.

B. Underwriting is the process of firm selling new securities directly to the public.

C. Underwriting is the process of a mutual fund selling new shares to the public.

D. None of these describe the process of underwriting.

E. Underwriting is the process of placing debt with a private equity group.