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Which of the following statements about the corporate form of ownership is FALSE?A. The shareholders are the owners of the firm and hold the top priority claim among all stakeholders.B. The shareholders elect the directors of the corporation, usually in uncontested elections.C. The directors appoint the firm's management, and yet managers usually participate in nominating new candidates for directors.D. Separation of ownership from control can cause agency problems where managers act in their own interests, rather than shareholders' interests.
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