+ 5 ... 5. A business created as a distinctlegal entity and treated as a legal"person" is called a: A. corporation B. sole proprietorship C. general partnership D. limited partnership E. unlimited liability company. 6. Which one of the followingterm sis defined as a conflict of interest between the corpora shareholders andthe corporate managers? A. articles of incorporation B. corporate break down C. agency problem D. bylaws E legal liability 7. A stakeholder is: A. a person who owns shares of stock. B. any person who has votingrights based on stock ownership of a corporation C. a person who initially founded a firm and currently hasmanagement control over that firm D. a creditor to whom a firm currently owes money. E. any person or entity other than a stockholder or creditor who potentially has a claim on the cash flows of a firm 8. Which of the following questions are addressed by financial managers? I. How should a product be marketed? II. Should customers be given 30 or 45 days to pay for their credit purchases? III. Should the firm borrow more money? IV Should the firm acquire new equipment? A. I and IV only B. II and III only C. I,II, and III only D. II,III, and IV only E. I,II,III, and IV