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To qualify as an intrastate offering under SEC Rule 147, which of the following is...

To qualify as an intrastate offering under SEC Rule 147, which of the following is true of the issue?

A.

it must be approved by the SEC

B.

it must be sold only to bona fide residents of one state

C.

it cannot exceed $1,500,000 in value

D.

it must consist of common stock only

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