9. Which working capital financing policy exposes the firm to the greatest risk of being unable to meet its obligations as they fall due? (A) Financing fluctuating current assets with long-term debt (B) Financing permanent current assets with long-term debt (C) Financing fluctuating current assets with short-term debt (D) Financing permanent current assets with short-term debt 10. Which of the followings actions is most likely to increase shareholder wealth? (A) The average cost of capital is increased by a recent financing decision (B) The firm's cash operating cycle becomes longer (C) The board of directors decides to invest in a project with a quick payback period (D) The annual report declares full compliance with the corporate governance code 14. Which one of the following statements best describes a cumulative preference share? (A) It has the right to be converted into ordinary shares at a future date. (B) It entitles the shareholder to a share of residual profits. (C) It entitles the shareholder to a fixed rate of dividend. (D) It carries forward to the next year the right to receive unpaid dividends