Which of the Following Is NOT Commonly Cited as a Reason

Which of the following is NOT commonly cited as a reason why management needs to understand capital markets?

A) Issuing securities to acquire capital is an ongoing process.
B) Active markets have developed for the trading of securities,management needs to understand how these markets impact the firm's constantly changing shareholder base.
C) Capital markets evolve over time,so management needs to be aware of any new methods or new locations for issuing securities that may come available.
D) All of the above are commonly cited reasons for understanding financial markets.