With Regard to External Sources of Financing for Nonfinancial Businesses

With regard to external sources of financing for nonfinancial businesses in the United States,which of the following are accurate statements?

A) Marketable securities account for a larger share of external business financing in the United States than in Germany and Japan.
B) Since 1970,most of the newly issued corporate bonds and commercial paper have been sold directly to American households.
C) Direct finance accounts for more than 50 percent of the external financing of American businesses.
D) Smaller businesses almost always raise funds by issuing marketable securities.