Profit maximization is not an adequate goal of the firm when making financial decisions because:

 Profit maximization is not an adequate goal of the firm when making financial decisions because:    
a.     it does not necessarily reflect shareholder wealth maximization.
b.     it ignores the risk inherent in different projects that will generate the profits.
c.     it ignores the timing of a project’s returns.
d.     all of the above are correct.

 

Solution