The Board of Directors of Chu Manufacturing Inc., a publicly traded firm, has several committees, including the compensation, audit, nominating and corporate governance committees. Which of the following statements regarding the committees is correct? Question 2 options: A. The audit committee should understand management's use of estimates and judgments in financial reporting. B. The compensation committee is responsible for evaluating the performance of the Chair, the Board, and the individual directors. C. The compensation committee should be composed of management and independent directors. D. The corporate governance committee should make recommendations to the Board with respect to CEO and CFO compensation