$42$

Multiple Choice $0\mathrm{.}44$ points

Which of the following statements is true?

Rule $504$ and $505$ permit no general advertising or solicitation through public media.

Rule $505$ permits the sale of $$10$ million of unregistered securities in the private offering in any $12-$month period.

The entrepreneur issuing the private offering is spared the burden of proving that the exemptions granted have been met.

Rule $506$ provides the first exemption to a company seeking to raise a small amount of capital from numerous investors.