Which of the following best describes hard capital rationing?

a-Extra capital is available to the company due to external factors such as banks who are keen to lend.

b-A limited amount of capital is available to the company due to internal factors such as management unwillingness to take more risk.

c-Extra capital is available to the company due to internal factors such as excess cash from operations.

d-A limited amount of capital is available to the company due to external factors such as banks unwillingness to lend.