9. Which of the following statements is false? A) Dividends are not a liability of the firm. OB) Most preferred dividends are cumulative. C) Preferred stock does not generally carry voting rights. D) Coupons are not a liability of the firm E) The US equity markets have been found to be semi-strong efficient. Question 10 (2.5 points) 10. Portfolio diversification reduces risk because of the between assets. A) variance B) risk premium OC) risk-free rate OD) covariance between assets E) capital gains yield