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Which of the following statements is true regarding the SEC ' s characterization of a...

Which of the following statements is true regarding the SEC ' s characterization of a registration statement that has just been made effective?

A.

The SEC has approved the security being offered for sale.

B.

The SEC has found the information presented to be true and accurate.

C.

The SEC has determined that no material information has been omitted.

D.

The SEC has not passed judgment on the merits of the security being offered for sale.

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