Which of the following is not one of the eight basic puzzles about financial structure?
A) The financial system is among the most heavily regulated sectors of the economy.
B) Only large, well-established corporations have access to securities markets to finance their activities.
C) Direct finance, in which businesses raise funds directly from lenders in financial markets, is many times more important than indirect finance, which involves the activities of financial intermediaries.
D) Debt contracts are typically extremely complicated legal documents that place substantial restrictions on the behavior of the borrower.
Answer: C
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