Which of the following statements is false?

a)	In the event of a bankruptcy, bondholders stand first in line to receive any cash they are owed.

b)	The value of a stock depends on the size, timing, and risk of its dividends.

c)	Shareholders are responsible for repaying the firms debt.

d)	Ethics and stock price maximization are generally consistent with each other.

e)	Bankruptcies are good for bondholders because they get their money back faster through liquidation.