Answer (D) is correct . Previously issued (outstanding) stocks of publicly owned companies are traded among investors in the secondary market. The original issuer receives no additional capital as a result of such trades.
Answer (A) is incorrect because Firms raise capital by issuing new securities in the primary market. The initial public offering market is a frequently used term for the market in which previously privately owned firms issue new securities to the public.
Answer (B) is incorrect because Stock that is already listed and outstanding is traded in the secondary market.
Answer (C) is incorrect because The over-the-counter market is the network of dealers that provides for trading in unlisted securities.
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