Which of the following actions would be considered an agency problem?

a.

An owner of a sole proprietorship takes company office supplies for personal use

b.

Both partners in a general partnership close the office early one day to go skiing

c.

A manager in a corporation buys shares of the companys stock when the price falls

d.

A manager in a corporation makes online personal travel arrangements during work hours

e.

A shareholder in a corporation sells shares of the companys stock when the price rises