20. Which companies are more likely to choose private debts over public debts

A) Small companies with high information asymmetry

B) Large companies with good reputation

C) No difference for small and large companies

D) Cannot determine

21. Which companies are more likely to have higher a proportion of long-term debts

A) Small companies with high information asymmetry

B) Large companies with good reputation

C) Medium companies between small and large companies

D) Cannot determine

19. The fiscal 2009 financial statements of BJ Services shows average net operating assets (NOA) of $3,708,639 thousand, average net nonoperating obligations (NNO) of $227,777 thousand, and average total liabilities of $1,753,554 thousand. The company's 2009 average stockholders' equity is:

A) 3, 480, 862 thousand

B) 1, 955, 085 thousand

C) 1, 525, 777 thousand

E) There is not enough information to determine the number.