Which of the following statements is correct?

Select one:

a.

A "prospectus" is a document which describes a company and the securities it plans to offer, and the prospectus generally must be approved by the SEC before a public offering of new securities can be made.

b.

If a company's stock is listed, then it trades in the over-the-counter (OTC) market.

c.

If the "preemptive right" exists in a company's charter, then the holders of its Class A shares have the right to receive a specified amount of dividends before dividends can be paid on Class B shares.

d.

The SEC must approve the price at which a stock is to be offered to the public when a company "goes public."

e.

The decision to list a company's stock generally is more important to the company than the decision to go public, i.e., listing has a larger impact on the way the firm is operated than does going public.