29mm

All of the following are features of modern financial systems EXCEPT:

Select one:

a. The primary source of external funds for businesses comes from loans from banks and other nonbank financial intermediaries.

b. Generally, direct finance involving the sale of marketable securities such as bonds and shares makes up approximately 60% of external funds for corporations.

c. Large, well-known corporations find it much easier than small companies to sell securities in financial markets.

d. Collateral is a prevalent feature of debt contracts for households and businesses.

e. In most countries, debt financing is a more important source of finance compared to equity financing.