Which of the following is not a reason for firms to own marketable securities?

	a.	Marketable securities offer a place to temporarily put cash balance to work earning a positive return.
	b.	Marketable securities serve as a substitute for cash balances.
	c.	Marketable securities are used as a temporary investment to finance seasonal or cyclical operations.
	d.	Marketable securities are more liquid than cash balances.
	e.	Marketable securities are used as a temporary investment to amass funds to meet financial requirements in the near future.