Which of the Following Statements Is True About Speculative Presentations

Which of the following statements is true about speculative presentations?

A) Speculative presentations require little time and effort on the part of agencies.
B) Many agencies do not like to participate in speculative presentations because there is no guarantee they will win the account,and they require time and money.
C) Speculative presentations are rarely used in the advertising industry.
D) Most agencies do not participate in speculative presentations to acquire new business.
E) They are also known as storyboards.