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问题如下：

In the geometric Brown motion process for a variable S,

I. S is normally distributed.

II. dln(S) is normally distributed.

III.  dS/S is normally distributed.

IV.  S is lognormally distributed.

选项：

A.

I only

B.

II，III, and IV

C.

IV only

D.

Ill and IV

解释：

Both $dS/S$ or $dln{(S)}$ are normally distributed. As a result, S is lognormally distributed. The only incorrect answer is I.