问题如下：
Which of the following about shelf registration is inappropriate?
选项：
A. It allows a company to have more flexibility to raise funds.
B. It means to sell the entire issue only to a qualified investor or a group of investors.
C. The master prospectus may be in place for years before it is replaced or updated.
解释：
B is correct.
Selling the entire issue only to a qualified investor or a group of investors is the private placement.
c是神马意思。。。。。