Your answer: Question 11 (CHAPTER 13) Which ONE of the following statements is true? (a) The unexpected annual return may be positive or negative, however over time it will be zero, on average. (b) Portfolio means buying 2 or more shares of stock from some company. (c) In a well diversified portfolio of stocks, its variance of returns can never be less than the variance of returns for its least risky stock. (d) As you invest your money into stocks of more and more companies, eventually you will eliminate all risk. (e) Non-diversifiable risk refers to fluctuations in stock returns that are caused, for example, by events that affect an entire industry