When faced with financial distress; managers of firms acting on behalf of their shareholders' interests will:
A) favor issuing large quantity of low quality debt to low quantity of high quality debt
B) favor paying high dividends to the shareholders
C) delay the onset of bankruptcy as long as they can
D) all of the above

Question

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The Answer of When faced with financial distress; managers of firms acting on behalf of their shareholders' interests will:
A) favor issuing large quantity of low quality debt to low quantity of high quality debt
B) favor paying high dividends to the shareholders
C) delay the onset of bankruptcy as long as they can
D) all of the above

When Faced with Financial Distress; Managers of Firms Acting on Behalf