Answer:
It is not true.
Explanation:
The annual Statement that have to be submitted at the end of each financial year must contain the Financial Status of the company (the Assets and Liabilities, Expenses & Income, Debtors & Creditors) e.t.c.
The overview of the internal audit and the audit committee are special demands of the Board of Directors. The overview of the internal audit and the audit committee are usually demanded or accompany the yearly financial reports when there are suspicion of financial: misappropriations, mismanagement or graft. 
 
        
                    
             
        
        
        
Answer:
Peter is maximizing his profit and is making an economic profit.
Explanation:
Peter's Pencils is a pencil producing firm in a perfectly competitive firm.
It produces 1,000 pencils an hour.
The total cost of producing 1,000 pencils is $500.
The market price of each pencil is $2.
The marginal cost of producing the last unit of a pencil at this point is $2.  
An individual firm in a perfectly competitive market faces a horizontal line demand curve which also represents the average revenue and marginal revenue.
This means that the marginal revenue earned from the 1,000th pencil is $2.  
The marginal revenue is equal to marginal cost, this implies that the firm is maximizing profits.
The average total cost of the firm is  
=  
=  
= $0.5
The average total cost is $0.5 which is lower than the price. This means that the firm is earning economic profits.
 
        
             
        
        
        
Answer:
d
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  
In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  
Perfectly competitive market consists of a large number of firms, and each firm is small relative to the entire market. This makes firms unable to set the prices for their goods. 
It is the monopoly and oligopoly market structure that is characterised by high entry and exit into the market
 
        
             
        
        
        
The least likely to receive tax dollars is Liberty Baptist University because of its religious beliefs.