Which of the following is not a method of using excess cash?

Increasing marketing expenditures excessively is not considered a method of using excess cash in a manner that directly enhances shareholder value or financial stability. While marketing is essential for growth and can be a strategic use of funds, excessive expenditures may not yield proportional benefits and could be seen as a misuse of available cash. Typically, companies aim for balanced investment strategies that focus on clear returns or strategic advantages rather than indiscriminate spending.

On the other hand, paying dividends to shareholders is a direct way to reward investors, providing them with immediate returns. Funding debt consolidation can strengthen a company's financial position by reducing interest costs and improving cash flow. Acquiring another firm can be a strategic move to enhance market share or capabilities, representing a clear investment of excess cash towards future growth. Thus, among these options, the excessive increase in marketing expenditures stands out as less aligned with judicious cash management.