Concerning Warrants and Call Options, Which of the Following Statements

Multiple Choice

Concerning warrants and call options, which of the following statements generally is correct?

A) The issue procedures for both are quite similar.
B) When a call option is exercised, the firm must issue new equity.
C) When a warrant is exercised, existing equity changes hands.
D) Exercise of a call option does not affect share value, but warrant exercise does.
E) None of the above is correct.