In the Context of Mutual Funds, Which of the Following

In the context of mutual funds, which of the following is a difference between a closed-end fund and an open-end fund?

A) A closed-end fund issues a fixed number of shares, whereas an open-end fund does not have a fixed number of shares.
B) Unlike an open-end fund, a closed-end fund cannot invest the money received from selling shares in a portfolio of assets.
C) Shares of closed-end funds cannot be traded among investors, whereas shares of open-end funds can be traded like stocks.
D) Unlike an open-end fund, a closed-end fund issues additional shares when demand increases.