Which of the following would best support an underwriter’s assertion of a reasonable investigation when seeking a Section 11 due diligence defense?

1. APreparing a due diligence memo documenting all investigative steps and findings✓ Correct answer
2. BDelegating all factual verification to the issuer's management
3. CRefusing to review the company’s interim financial statements
4. DAccepting all of management’s representations without further verification

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