Which of the following statements is FALSE? When a company founder decides to sell equity to outside investors for the first time, it is common practice for private companies to issue common stock rather than preferred stock to raise capital Institutional investors manage large quantities of money and are active players in the Venture Capital and Private Equity (VC/PE) market The general partners work for the venture capital firm and run the venture capital firm; they are called venture capitalists At such an early stage in the business that it is difficult to assess a value for the firm, so business issue convertible notes