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d 15. Agency costs refer to: a. the total dividends paid to stockholders over the lifetime of a firm. b. the costs that result from default and bankruptcy of a firm. c. corporate income subject to double taxation. d. the costs of any conflicts of interest between stockholders and management. e. the total interest paid to creditors over the lifetime of the firm. d 5. A(n) ____ asset is one which can be quickly converted into cash without significant loss in value. a. current b. fixed c. intangible d. liquid e. long-term c 21. Which one of the following accounts is generally the most