When Comparing Banks and Mutual Funds

When comparing banks and mutual funds,

A) mutual funds have more liquidity risk than banks because all shareholders share the loss of value on a pro rata basis.
B) mutual funds have less liquidity risk than banks because all shareholders share the loss of value on a pro rata basis.
C) mutual funds have more liquidity risk than banks because all shareholders have the ability to withdraw their money on a first-come first basis.
D) mutual funds have less liquidity risk than banks because all shareholders have the ability to withdraw their money on a first-come first basis.
E) mutual funds have the same liquidity risk as banks because both shareholders and depositors share the fall in the loss of value on a pro rata basis.