What does cash management primarily focus on?

Cash management primarily focuses on the efficient utilization of cash and cash equivalents because it involves overseeing a company's cash flow to ensure that it has sufficient liquid resources to meet its short-term obligations while maximizing the availability of cash for investment purposes.

This encompasses strategies for managing cash inflows and outflows, ensuring that cash is available when needed, and optimizing cash reserves to minimize holding costs and maximize interest income. Effective cash management is crucial in ensuring that the company can respond to opportunities and challenges, avoid financing problems, and maintain operational efficiency.

The other options relate more to broader financial strategies. Maximizing dividends and determining stock buy-back strategies are more aligned with the broader objectives of corporate finance aimed at shareholder value, while establishing fixed asset prices pertains to capital budgeting and investment decisions, rather than the day-to-day management of cash flow.