Only large shareholders and particularly institutional shareholders have incentives and resources to monitor companies governance and other shareholder benefits because:

A. Corporate ownership is highly dispersed and diffused. B. The incentives and opportunities for individual investors to monitor the companys governance are very remote. C. Individual investors cannot afford the high costs of monitoring. D. All of the above. The board committee with the responsibility of approving the companys policy for authorizing claims for expenses from the CEO and other executives is the: A. Audit committee. B. Compensation committee. C. Nominating committee. D. None of the above. The audit committee should be composed of independent, non-executive, outside directors. Independence is characterized by the CMA as: A. Not receiving any compensation from the company other than that as a board member. B. Not having been employed by the company or its affiliates within the past five years. C. Not having been a member of the immediate family of the companys executives or its affiliates within the past five years. D. All of the above.