Which one of the following situations is most apt to create an agency conflict?

a$.$ Compensating a manager based on his or her division's net income

b$.$ Giving all employees a bonus if a certain level of efficiency is maintained

c$.$ Hiring an independent consultant to study the operating efficiency of the firm

d$.$ Basing management bonuses on the length of employment

e$.$ Laying off employees during a slack period

Clear my choice