State whether the following statements are true or false.

(a) T/F. The goal of a company is to maximise shareholder wealth. (1 mark)

(b) T/F. Management compensation is one way of managing agency conflicts. (1 mark)

(c) T/F. Net working capital is equal to current assets and working capital is equal to current assets minus current liabilities. (1 mark)

(d) T/F. A long cash conversion cycle means a company is doing a good job of managing its cash flow. (1 mark)