Question 10 and 11 please :)

In order to "go public," a company must take all of the following actions except: engage an investment bank to determine if a market exists for the company's stock. prepare a prospectus. receive approval of the prospectus from the SEC. prepare a "red herring" and file it with the Commerce Department. offer stock to the public in an IPO. QUESTION 11 Which of the following is a characteristic(s) of initial public offerings (IPOs)? Very stable Secondary market transaction General public can get involved right away Institutions (mutual funds, insurance companies, pension funds) are the largest investors in IPOs