Business, 16.12.2020 16:50 907to760

When faced with financial distress, managers of firms acting on behalf of their shareholders' interests will tend to: I)issue large quantities of low-quality debt versus low quantities of high-quality debt;
II)favor paying high dividends to shareholders;
III)delay the onset of bankruptcy as long as they can
A) I only
B) II only
C) III only
D) I, II, and III

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