Select the option below that is NOT a difference between a stock and a bond? (one answer only)

a.Stocks represent an ownership share in a corporates, whereas bonds represent an obligation of a corporation.

b. A corporation can issue both stocks and bonds, but a municipality can generally only issue bonds.

c.Stocks trade on Over-The-Counter (OTC) markets and bonds trade on Exchanges.

d.Stocks have a residual claim on a firms net assets and bonds have a contractual claim.