The underwriting function has increasingly included the _____ dealMultiple choice question.best effortsbought

The underwriting function has increasingly included the best efforts deal.

In the context of underwriting, a "best efforts" deal refers to an agreement where the underwriter agrees to sell as much of an issue of securities as possible, but does not guarantee the entire amount will be sold. This contrasts with a "bought" deal, where the underwriter buys the entire issue upfront and assumes the risk of selling it to investors. The best efforts approach is often preferred by issuers who may have concerns about market conditions or demand for their securities, allowing them to mitigate risk while still attempting to raise capital.