Leasing equipment reduces the risk of obsolescence to the lessee, and passes the risk of residual value to the lessor.

Which of the following statements is true of sales promotions?

a. Public relations cannot effectively be used with sales promotions. b. Sales promotion is a type of direct marketing. c. Marketers view sales promotion as an attempt to create a long-term, committed relationship between customers and salespersons. d. Sales promotions include experiential marketing whereby marketers create events that enable customers to connect with brands.

If the auditor believes that the financial statements are not fairly stated or is unable to reach a conclusion because of insufficient evidence, the auditor

A) should withdraw from the engagement. B) should request an increase in audit fees so that more resources can be used to conduct the audit. C) has the responsibility of notifying financial statement users through the auditor's report. D) should notify regulators of the circumstances.