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Which of the following is NOT true? Profit maximization has an ambiguous definition of maximizing profits. Shareholder wealth is measured by the book value of
Which of the following is NOT true?
Profit maximization has an ambiguous definition of "maximizing profits".
Shareholder wealth is measured by the book value of the shareholders' common stock holdings.
The limitations of the profit maximization goal include lacking a time dimension ie static and ignoring risk.
There are no agency problems between owners and managers in sole proprietorships.
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