Which of the following statements is correct?

Group of answer choices

In a company, shareholders are the agent and managers are the principal.

Agency costs can be minimised by giving managers a compensation package comprising of a fixed salary only.

All the options listed are correct

Agency costs can be minimised by encouraging active and informed shareholder participation in corporate affairs, such as annual general meetings.

Agency costs can be reduced if the Board of Directors of a company, is part of the senior managers of the company.