单选题 Passage 2 Whereas the money markets provide very short-term loans, the capital market takes account of medium and long-term loans. It serves the needs of industry and commerce, government and local authorities. Private sector firms borrow their working capital (current assets minus current liabilities) from the money market, which used to be mainly via commercial banks; the role of banks as middlemen has now diminished, even for the working capital requirements. Private sector firms raise their fixed capital by the issue of shares or commercial paper bonds. Government and local authorities borrow medium and long-term capital by issuing gilt-edged stocks and bands. The main market place for lending and borrowing medium and long-term capital in the UK is the Stock Exchange in London.

单选题 An industrial corporate can meet its financial needs by seeking funds from the capital markets.

单选题 Nowadays a private business usually obtains its working capital through a commercial bank.

单选题 In the UK commercial banks often raise funds by issuing bands and stocks.