1)Agency theory can best be described as:

The relationship between the board of directors and shareholders

The relationship between top management and the board of directors

The relationship between top management, the board of directors, and shareholders

The relationship between the external auditors and top management

2)The term disgorgement means:

To return ill-gotten gains

To give up one's meal after eating

To return profits earned illegally

To give up one's board position after a fraud incident