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

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

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

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

d$.$ Ford Motor Company wants to build a new factory but does not have the cash on hand to pay for it$.$ It finances its new factory through debt financing.