Almost All Firms That Go Public Enlist the Help of an Investment

Almost all firms that go public enlist the help of an investment bank that specializes in helping firms issue new securities. Under a best efforts approach, the investment bank:

A) provides advice about pricing and marketing the securities and assists in finding potential buyers.
B) itself purchases all of the shares of the firm at a specified price.
C) does not earn a commission on any of the shares sold.
D) guarantees that the firm will sell all of its securities at a high enough price to meet its financial goals.