The Howey Decision Did What

The Howey Decision did what?

A) provided for fixed annuities to be excluded from the definition of a security.
B) defined an investment contract as any investment of money in a common enterprise with the expectation of earning a profit from the efforts of others.
C) stipulated that all general partnerships were investment contracts and, therefore, securities, as defined by the Securities Exchange Act of 1934.
D) determined that certificates of deposit issued by a bank and insured by the FDIC did not qualify as securities, as defined by the Securities Exchange Act of 1934.