单选题 The least appropriate security for investing short-term excess cash balances would be:
  • A. bank certificates of deposit.
  • B. preferred stock.
  • 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.