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. The WACC which is used as the required rate of return in capital budgeting decisions is a weighted average percentage cost of all of the firm's funding sources which come from investors. Select one: True False