Which of the following best describes book entry?
A) The transfer of ownership is entered on the books of the issuer or the issuer's transfer agent.
B) The transfer of ownership is entered on the books of the SRO.
C) The transfer of ownership is entered on the books of the clearing agency.
D) The transfer of ownership is entered only on the books of the buyer.
Answer: A) The transfer of ownership is entered on the books of the issuer or the issuer's transfer agent.