cfa i

问题如下：

According to the pecking order theory:

选项：

A.new debt is preferable to new equity.

B.new debt is preferable to internally generated funds.

C.new equity is always preferable to other sources of capital.

解释：

Correct Answer: A

A is correct. According to the pecking order theory, internally generated funds are preferable to both new equity and new debt. If internal financing is insufficient, managers next prefer new debt, then new equity. Managers prefer forms of financing with the least amount of visibility to outsiders.