Which of the Following Is True of the Capital Structure

Which of the following is true of the capital structure irrelevance theorem?

A) If two firms are identical in their capital structures,there is no opportunity to earn arbitrage profits exists if the total values of the two firms are not the same.
B) If the capital structure decision has no effect on the total cash flows that a firm can distribute to its debt and equity holders the decision will only affect the firm?s equity.
C) If two firms are identical except for their capital structures,an opportunity to earn arbitrage profits exists if the total values of the two firms are not the same.
D) If the capital structure decision has no effect on the total cash flows that a firm can distribute to its debt and equity holders then the levered cash flows will be less than the unlevered cash flows.