Which of the following is a feature of seed financing? O a. The managerial involvement is very high. The company has to start up all operations Ob Money is used to finance research: The company needs money to finance the development C. Money is used to pay off debtors. QUESTION 11 Which stage of PE financing does not derive from the arise of need of money of a company? O a Early growth financing O b. Expansion financing O c. Replacement financing QUESTION 12 Which of the below is not true for PE investment? O a. The price is driven by the market. O b. Finding a new shareholder to sell shares is hard as there is no stock exchange OC. There is a formal agreement between shareholders and company as the former have to protect themselves in PE investment QUESTION 13 Which of the below financing option is not available in the development stage of a firm? O a. Angels b. Private equity O C. Bank loans QUESTION 14 Which of the below is not an exit strategy of a PE fund? Oa. IPO O b. Leveraged buyout . M&A