Who do you think bears the greatest risk when financing a company?

Select one:

a. the preference shareholders, because they might not receive a dividend in a bad financial year

b. the bondholders, for they might not receive interest if a company has a bad financial year

c. the ordinary shareholders, for they might not receive a dividend but also lose their entire investment in case of a default

d. the managers and employee because they might not receive salary.

e. the directors, as they can be fired if their performance is judged to be below par by the shareholders