Which of the following is TRUE about underwriters

I. Underwriters act as intermediaries between firms going public and capital markets

II$.$ Underwriters help firms sell new issues of stock to the general public

III. In an IPO, Underwriters would usually offer their firm commitment to high quality firms and their best efforts to lesser quality firms

IV$.$ Underwriters would usually offer IPO subscriptions to their preferred clients.

options:

I, II$,$ III and IV

II only

II and IV only

I only