Which of the following statements accurately describe the reasons for the appropriateness or inappropriateness of an investment type in a qualified retirement plan portfolio?

. . . . I. Common stocks offer liquidity and can preserve purchasing power.

. . . . II. Bonds are useful for funding future fixed obligations but are not liquid.

. . . . III. Mutual funds provide diversification and can preserve purchasing power.

. . . . IV. Money market investments provide liquidity and high real return.

Select one:

a. I and IV only

b. II and III only

c. III and IV only

d. I, II, and III only