Directions: Read the following passages, and determine whether the sentences are "Right" or "wrong". If there is not enough information to answer " right" or "wrong’’. choose "Doesn’t say".
　　Passage One
　　New issues of common stock come into two varieties, primary distributions and secondary distributions. Primaries are sales of stock that have never been issued before. There are two types of primary distributions--initial public offering (IPOs) and additional floats of companies’ stock that will dilute each shareholder’s existing holding. Of the two, the latter are more common in the new issues market for equities since they involve offerings of shares of larger, more mature companies seeking additional equity capital. Secondary distributions are sales of stock that previously existed in some form or other but are too large to be accommodated on the stock exchanges. Procedures for secondaries often follow those for primaries although the offering period is much shorter and may involve a matter of hours rather than days.
　　The actual marketing for these issues is done by investment bankers directly to the public. On rare occasions, companies have attempted to sell their shares or bonds directly to the public, avoiding investment banking fees. Unless the company is very well known, such attempts are less than successful. The behavior of investment bankers is key to the reception of new issues and directly affects the cost of capital for a company. As a result, the choice of an investment banker is crucial for a company, and the wrong choice could affect its costs over the near term.
　　51. Initial public offerings (IPOs) are one of the type of primary distributions,while additional floats of companies’ stock belong to secondary distributions.
　　A.Right
　　B.Wrong
　　C.Doesn’t say
　　52. Compared with additional floats of companies’ stock, initial public offering
　　(IPOs) are more common because they involve offerings of shares larger, more mature companies seeking additional equity capital.
　　A.Right
　　B.Wrong
　　C.Doesn’t say
　　53.Both primary distributions and secondary distributions are issued in primary markets.
　　A.Right
　　B.Wrong
　　C.Doesn’t say
　　54. Few companies have attempted to see their shares or bonds directly to the public.
　　A.Right
　　B.Wrong
　　C.Doesn’t say

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