High Tech Corp. cut its research and development budget in 2010 by $4,000,000 in order to improve its cash flow for the year. Which of the following statements is most correct?
a) Cutting the research and development budget will likely lead to long-term growth.
b) Cutting the research and development budget may hinder innovation and future competitiveness.
c) Cutting the research and development budget will have no impact on the company's performance.
d) Cutting the research and development budget is a common strategy for improving cash flow.
