Question 16 Not yet answered Marked out of 1.00 Flag question The conflict of preferences occurs because O a. Customers of firms have different needs to those assumed by suppliers O b. Primary investors want low-cost liquidity and certainty, and the ultimate borrowers want long term risk-bearing capital O c. Primary investors want a completely risk-free investment with high returns and borrowing firms offer only high risk/low return as their securities O d. Preference shares do not carry a sufficiently high dividend, given their risk