Equity and Debt in a Firm Are Option-Like

Multiple Choice

Equity and debt in a firm are option-like.Which of the following options are they?

A) Equity is akin to a short call and debt is akin to a package containing a long put.
B) Equity is akin to a long call and debt is akin to a package containing a short put.
C) Equity is akin to a short put and debt is akin to a package containing a long call.
D) Equity is akin to a long put and debt is akin to a package containing a short call.