单选题 The least appropriate security for investing short-term excess cash balances would be:

A、

A. bank certificates of deposit.
B、

B. preferred stock.
C、

C. time deposits.

【正确答案】 B

【答案解析】While adjustable-rate preferred is an appropriate security for short-term investment of excess cash balances, other preferred shares are not. Bank certificates of deposit and time deposits can be for appropriately short periods.