please answer both thank you

Which of the following is the best explanation of why most financial analysts (and activist investors) do not approve of firms holding large amounts of marketable securities for extended periods of time? Select one: a. Marketable securities are government securities and therefore cannot be considered to be assets. b. Marketable securities are not necessary for the production of goods and services. c. Marketable securities' yields are almost always lower than the firms WACC. d. Marketable securities are typically only a small portion of the firm's liabilities. e. Marketable securities do not generate revenues. A firm's weighted average cost of capital is both 1) the benchmark rate of return which each of the firm's capital projects should be expected to exceed, and 2) the appropriate discount rate for any valuation which involves the firm's free cash flows. Select one: True False