In an Auction,what Role Do the Bidders Play

Multiple Choice

In an auction,what role do the bidders play?

A) The bidders are always offerees.
B) The bidders are always offerors.
C) The bidders can be offerees or offerors, and this depends on whether the bids are made orally or in writing.
D) The bidders can be offerees or offerors, and this depends on whether the auction is with reserve or without reserve.
E) The bidders are "buyers", and the terms "offeree" and "offeror" have no legal significance.