Which of the Following Is False

Which of the following is false?

A) Investment banks underwrite securities offering in both the primary and secondary markets.
B) Investment banks design, market, and underwrite new issues of securities.
C) A new issuance of stocks or bonds by a company that has not previously sold stocks or bonds is called an initial public offering (IPO) .
D) An offering of new stocks or bonds by a company that has previously sold stocks or bonds is called a secondary offering.