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Which one of the following is a false statement? (A). Publicly traded companies sell securities to the general public. (B). Initial Public Offering (IPO) means

Which one of the following is a false statement?

(A). Publicly traded companies sell securities to the general public.

(B). Initial Public Offering (IPO) means first sales of stock by a formerly private company.

(C). Privately held firms have more obligations to release financial statements to the general public.

(D). Trading of existing stock take place in the secondary market.

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