Which of the Following Is True of a Red Herring

Multiple Choice

Which of the following is true of a red herring prospectus?

A) It can be distributed to potential buyers during the pre-filing period, and limited sales can be finalized during this period.
B) It can be distributed to potential buyers during the pre-filing period to finalize sales.
C) It can be distributed to potential buyers during the waiting period, but no sales can be finalized during this period.
D) It can be distributed to potential buyers during the post-effective period to finalize any sales.