4. Which of the following about forms of financing and banks is correct?

Select one:

a. Bank bill acceptance involves short-term company financing where the company pays the holder at maturity

b. Unsecured notes are issued by banks into the money markets for all their short-term financing

c. Bank profits may be paid out as dividends or retained by the bank as retained earnings

d. A debenture is a short-term bank asset

e. Any issue of subordinated notes by a bank ranks them below bank shares