Which of the Following Would Be a Violation of Management's

Which of the following would be a violation of management's fiduciary responsibility to its shareholders?

A) In its efforts to expand internationally, which it believes will enable it to increase its profitability, a cable company lays cables throughout a third world country, only to have
Its underground assets expropriated by the government of that country.
B) Management agrees to acquire a small firm that is owned by one of its board members and that manufactures a product that is similar to its own product line, basing its decision on
That member's NPV analysis of his business.
C) Management undertakes a project that turns out to be a loser, even though they had concluded it was a positive-NPV project before they undertook it.
D) All of the above will erode shareholders' wealth and are, therefore, violations of management's fiduciary responsibility to its shareholders.