Indicate whether each scenario is a characteristic or an example of a stock or bond.

a$.$ Roberta purchases a financial asset that gives her partial ownership of a company. $$

b$.$ Verizon finances an expansion of its operations by giving investors small ownership stakes in the company.

$$

c$.$ Eric lends money to his city. The city issues him a certificate specifying when Eric will be repaid and the interest he will earn. $$

d$.$ Johnson