Which of the following statements about the corporate form of organization, if any, show sound economic reasoning?

Because ownership and control are typically separate in corporate firms, they are less efficient than sole proprietorships.

By having limited liability, the corporate form of organization provides a way for raising the large amounts of capital necessary for large efficient size enterprises.

Shareholders of a corporation are fully liable for the debts of their business. All their assets, not just those they invested in the firm, are at risk.

Managers that significantly deviate from profit maximization make their firms targets for takeovers.