Modigliani and Miller Argued That a Corporation's Financial Policies,such as Hedging

Multiple Choice

Modigliani and Miller argued that a corporation's financial policies,such as hedging foreign exchange risk,________ unless they lowered the firm's taxes,affected its investment decisions,or could be done more cheaply than individual investors' transactions could be done.

A) do not change the value of the firm's assets
B) always change the value of the firm's assets
C) were difficult to assess
D) were relevant to a firm's dividend policy