Classify the following statements according to where each fits in the objectiveconstraints- policies framework.

a. Invest 5% in bonds and 95% in stocks.

b. Do not invest more than 10% of the budget in any one security.

c. Shoot for an average rate of return of 11%.

d. Make sure there is $95,000 in cash in the account on December 31, 2020.

e. If the market is bearish, reduce the investment in stocks to 80%.

f. As of next year, we will be in a higher tax bracket.

g. Our new president believes pension plans should take no risk whatsoever with the pension fund.

h. Our acquisition plan will require large sums of cash to be available at any time.