What inherent characteristic of corporations creates the need for a system of checks on manager behavior?

$($Select all the choices that apply.$)$

A$.$ The corporation allows for the separation of management and ownership.

B$.$ Those who control the operations of the corporation and how its money is spent are not the same ones as those who have invested in the corporation.

C$.$ The separation of management and ownership creates a clear conflict of interest, and this conflict between them creates the need for investors to managers a system of checks on investors$-$ the system of corporate governance.

D$.$ The separation of management and ownership creates a clear conflict of interest, and this conflict between them creates the need for investors to devise a system of checks on managers$-$the system of corporate governance.