The Primary Reason(s) That Firms Do Not Hold Long-Term U

The primary reason(s) that firms do not hold long-term U.S. Treasury securities in their marketable securities portfolio is because ______.

A) the interest-rate risk associated with these securities is too high
B) the transactions costs associated with these securities is too high
C) the default risk associated with these securities is too high
D) these securities are not readily marketable