Which of the following are characteristics of public issues, and which are characteristics of direct financing?

a. OSC registration.

b. Higher interest cost.

c. Higher fixed cost.

d. Quicker access to funds.

e. Active secondary market.

f. Easy renegotiation.

g. Lower flotation costs.

h. Regular amortization.

i. Ease of repurchase at favorable prices.

j. High total cost to small borrowers.

k. Flexible terms.

l. Less intensive investigation.