Legal Environment 4th Edition by Jeffrey Beatty, Susan Samuelson

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CPA QUESTION When a common stock offering requires registration under the Securities Act of 1933:
(a) the registration statement is automatically effective when filed with the SEC.
(b) the issuer would act unlawfully if it were to sell the common stock without providing the investor with a prospectus.
(c) the SEC will determine the investment value of the common stock before approving the offering.
(d) the issuer may make sales 10 days after filing the registration statement.