Which of the following statements accurately describes the buyback behaviour of Australian companies?

Group of answer choices

Off-market buybacks are more likely to be used when the company is generating more cash flows

Off-market buybacks are more likely to be used when the company is undervalued

None of the other statements is correct.

More than one of the other statements is correct.

On-market buybacks are more likely to be used when managers wish to distribute franking credits