Which of the following best describe the agency relationship in a corporation?

Select one:

a. Shareholders act as the agent in a corporation and the management acts as the principle.

b. Shareholders act as the principle in a corporation and the board of directors act as the agent.

c. The management acts as the agent in a corporation and the board of directors act as the principle.

d. Shareholders act as the principle in a corporation and the management acts as the agent.