The principal$-$agent problem is best defined as:

Select one:

When the person managing the business and the person who owns the business are not aligned on the activities of the

business

When the person managing the business for an owner, acts in a manner that improves the financial well$-$being of the

owner

When the person managing the business for an owner, acts in a manner that benefits the shareholders

When the person managing the business for an owner, acts in accordance with the owner's interests