3、fthefollowingisnotanimportantcharacteristicofshort-termmarketablesecurities? A. MaturityriskB. MarketabilityC. TaxabilityD. DefaultriskE. Alloftheaboveareimportant. 4. Marketabilityriskissynonymouswith: A. maturityrisk.B. defaultrisk.C. liquidityrisk.D. int
4、erestraterisk.E. Noneoftheabove. 27-35Chapter27-CashManagement5. Whichofthefollowingmoney-marketsecuritieshasnoactivesecondarymarket? A. Certificatesofdeposit(CD's)B. CommercialpaperC. Banker'sacceptancesD. TreasurybillsE. Allmoney-marketsecuritieshaveactiv
5、esecondarymarkets. 6. Ifafirmhasachieveditstargetcashbalancethenetpresentvalueis: A. positivebecausethecashbalanceispositive.B. zerobecauseincreasingthecashbalanceincreasestheinterestcost.C. negativebecausethecashbalancehasafinancingcost.D. positivebecaused
6、ecreasingthecashdecreasesthecostofilliquidity.E. Noneoftheabove. 7. Determiningtheappropriatetargetcashbalanceinvolvesassessingthetrade-offbetween: A. incomeanddiversification.B. thebenefitandcostofliquidity.C. balancesheetstrengthandtransactionneeds.D. All
7、oftheabove.E. Noneoftheabove. 8. Thetargetcashbalanceisreachedwhen: A. theinterestonanymarketablesecuritythrow-offismaximized.B. theinterestforegonefromnotinvestinginanequivalentamountofTreasurybillsisminimized.C. thevalueofcashliquidityequalsinterestforego