What term refers to the financing structure that includes debt and equity?

The correct term that refers to the financing structure comprising both debt and equity is capital structure. Capital structure is a critical concept in finance as it outlines how a company finances its overall operations and growth by using various sources of funds. This structure typically represents the mix of a company's long-term debt and its equity, which may include common and preferred stock. By analyzing a company's capital structure, stakeholders can assess financial health, risk, and the potential for future growth.

In contrast, the other terms relate to different aspects of finance. Asset management pertains to managing investments on behalf of clients to maximize returns; financial leverage refers to the use of debt to increase the potential return on investment but does not encompass equity; and equity partnership suggests a specific type of joint venture or ownership where equity stakes are involved, rather than describing the broader concept of capital structure.