A closed-end investment company initially:
A) sells its shares to government to obtain cash to invest and then operates with a fixed number of shares outstanding.
B) sells its shares to investment banks to obtain cash to invest and then operates with a fixed number of shares outstanding.
C) sells its shares to the public to obtain cash to invest and then operates with a fixed number of shares outstanding.
D) sells its shares to commercial banks to obtain cash to invest and then operates with a fixed number of shares outstanding.
Correct Answer:
Verified
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