Which of the following is not considered as the advantage of a company structure?

	a.	A company is a legal entity distinct from the owners, which enables it to conduct its operations in its own name.
	b.	There can be conflict of interest between those who own the company (shareholders) and those who make decisions on their behalf (managers).
	c.	The shareholders of most companies have limited liability.
	d.	A company has an indefinite life, unlike a sole proprietorship or partnership, its existence and operations are unaffected by the death or retirement of its owners.