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Metallgesellschaft’s mismanagement in its long-term fixed contract strategy was evidenced by which of the following?
I. Refunding payments to customers who willingly paid to cancel their long-term obligations.
II. Canceling the program too soon while the positive legs of the contracts could have been sold at a profit or used to secure additional financing.
III. Not considering the sale of the program to another firm.
A. I only.
B. I, II, and III.
C. I and III.
D. II and III.
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