Which of the Following Correctly Describes a Difference Between Closed-End

Which of the following correctly describes a difference between closed-end and open-end investment companies?

A) Open-end investment companies have a fixed number of shares; closed-end companies can create new shares if there are more buyers than sellers.
B) Open-end investment company shares will never be offered at a price below the net asset value per share of the fund; this is not true of closed-end companies.
C) Open-end companies may invest in non-diversified portfolios; closed-end companies are required to invest only in diversified portfolios.
D) Shares of open-end companies sell on exchange floors; shares of closed-end companies are bought and sold through the company itself.