Correct Answer: None of the above

Solution : Answer = None of the above

If long-term term Debt decreases, then it also decreases the Debt Equity Ratio.

If Debt increases, then the Debt to debt-to-equity ratio will also increase.

If the Share Holder fund decreases, then the Debt to Equity Ratio will also increase because the Debt to Equity Ratio shows the relationship between Debt and Equity.
Hence, the correct option is 4.