Which of the Following Most Accurately Describes the Conclusion of Franco

Which of the following most accurately describes the conclusion of Franco Modigliani and Merton Miller as it relates to the conservation of value principle?

A) Managers can create value by adjusting the capital structure of a firm,which is congruous with the conservation of value principle.
B) Managers cannot create value by adjusting the capital structure of a firm,which is congruous with the conservation of value principle.
C) Managers can create value by adjusting the capital structure of a firm,which is a violation of the conservation of value principle.
D) Managers cannot create value by adjusting the capital structure of a firm,which is a violation of the conservation of value principle.