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The following are advantages of shelf registration except: I) securities can be issued in dribs and drabs without incurring excessive transaction costs; II) securities can

The following are advantages of shelf registration except:

I) securities can be issued in dribs and drabs without incurring excessive transaction costs;

II) securities can be issued on short notice;

III) security issues can be timed to take advantage of market conditions

A. I only

B. II only

C. III only

D. I, II, and III

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