Which of the following statements is CORRECT?

a. While the two frequently perform similar functions, investment banks generally specialize in lending money, whereas commercial banks generally help companies raise large blocks of capital from investors.

b. If you sold 10 shares of Apple stock through your online brokerage account, then this would be a primary market transaction.

c. Physical location exchanges are formal organizations having tangible physical locations that conduct auction markets in designated securities. The NYSE exists as a physical location exchange.

d. Money market instruments include long-term debt securities and common stock.

e. An example of a primary market transaction would be your uncle transferring 100 shares of Target stock to you as a birthday gift.