QUESTION 14 The three primary agency relationships in firms include which of the following? 1. Inside owner/managers and outside owners II. Outside stockholders and hired managers HII. Managers and customers IV. Stockholders and creditors O I, II, and IV o I and II only O II, III, and IV O ll only OLII and III QUESTION 15 Which of the following is true regarding trade credit for accounts payable management? 1. Especially for small firms, it is often the largest source of short-term credit. II. The credit is furnished by a firm's customers. It is easy to get and spontaneous, and the costs are low. O I, II, and III o I only O land Ill only O III only II and Ill only