Management is liable for public disclosure and answerable to
external shareholders because the company is a listed company and
the external shareholders are also having the ownership of the
company and they are also entitled to have answers from lmanagement
so this is not an advantage associated with going public.
Other advantages will be more capital and more liquidity along
with fair valuation and publicly traded stocks used as
currency.
Correct answer will be option (e) management must answer to
outside shareholders.