Which of the Following Statements About Stock-Issuing Firms Is FALSE

Which of the following statements about stock-issuing firms is FALSE?

A) Firms that issue stock for the first time do so through an initial public offering, handled by an investment bank.
B) Firms that pay dividends cannot lose money for their investors because the stockholders can at least count on the dividend payment every year.
C) Firms that issue new stock a second time are making a secondary public offering.
D) Firms that issue stock are participating in the equity credit channel.