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Question $42$ of $45$

In the context of agency theory, which of the following is a difference between agents and principals?

a$.$ Agents are less likely than principals to focus on a short time horizon.

b$.$ Agents often have more information about the day$-$to$-$day business than do principals.

c$.$ Agents are the owners of a business, whereas principals are the managers of a business.

d$.$ Agents take risks when they make decisions, whereas principals do not take risks.