Which of the following best describes a best efforts underwriting commitment? Review LaterIf the entire issue cannot be sold at the offering price, the deal is called off and the issuing company recei

Which of the following best describes a best efforts underwriting commitment?

Review LaterIf the entire issue cannot be sold at the offering price, the deal is called off and the issuing company receives nothing.The underwriter agrees to buy the entire issue and assume full financial responsibility for any unsold shares.Underwriter is only responsible for half (50%) of the issue.

Underwriter commits to selling as much of the issue as possible at the agreed-on offering price but can return any unsold shares to the issuer without financial responsibility.