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

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

E