The agency problem can best be described by which statement?

Group of answer choices

It occurs when management serves its own interests instead of those of the shareholders.

It is caused by sales agents who misrepresent the specifications of a product as set forth by corporate headquarters.

It is prevalent in companies that use nonmarket strategies.

It is highly prevalent in government agencies where taxpayer revenues do not align with the cash needs of the organization.

It occurs when perspectives on business ethics are based on accepted norms in society.