Final answer:
The correct answer is e. Equity financing.
Step-by-step explanation:
Equity financing refers to the financing that consists of funds that are invested in exchange for ownership in the company. When a company issues stock, investors purchase shares of the company and become partial owners.
In contrast, debt financing involves borrowing money from creditors and promising to repay the borrowed amount with interest.
Franchising and licensing are business models that involve granting others the right to use a company's brand and business methods in exchange for fees or royalties.