Final answer:
The statement that is not true regarding the goal of maximizing shareholder wealth is 'D. None of these' because each statement listed has elements that are accurate, but statement B suggests a short-term orientation which is misleading.
Step-by-step explanation:
None of these. Each statement provided has merit with respect to shareholder wealth maximization, but statement B is somewhat misleading as the goal of maximizing shareholder wealth actually encompasses a long-run view, contrary to what the statement implies.
Maximizing shareholder wealth does indeed take into account the timing of cash flows (A), as the value of future cash flows is taken into consideration when determining a company's value. Furthermore, it is not merely a short-term perspective; it looks at the long-term growth and sustainability of the company's earnings and cash flows. It also incorporates the consideration of risk (C), as higher risk is typically associated with the potential for higher returns but also with greater uncertainty. Both the cost of debt and the scrutiny from venture capitalists (referenced in the additional materials) play a critical role in how a company's strategies align with shareholder wealth maximization in the long run.
Overall, the goal of maximizing shareholder wealth is complex due to the ongoing tradeoff between return and risk, as well as how these factors play out over different time frames.