As Per the Pecking Order of Financing Choices

As per the pecking order of financing choices:

A) firms prefer to finance investments with retained earnings rather than external sources of funds.
B) firms weigh the costs of having too much debt when they are doing poorly against the tax benefits of debt when they are doing well to arrive at their optimal capital structures.
C) the capital structures of firms are optimized period by period.
D) if a firm has excess cash,it will tend to repurchase shares prior to paying off its debt.