The auditor's tour of the client's inventory facilities should be led by

A) a member of the audit committee.
B) the CFO.
C) a plant supervisor.
D) the company president.

C

Business

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Sudley Shoppe had severe damage done to its Christmas inventory due to an escaped circus elephant rampaging through the store. The inventory loss was $80,000 before applicable taxes of $20,000. How should Sudley Shoppe report the loss?

A. $80,000 loss in other expenses and losses B. $80,000 extraordinary loss C. $60,000 extraordinary loss D. $100,000 extraordinary loss

Business

Audi models featured prominently in the 2010 blockbuster Iron Man 2, including main character Tony Stark's personal R8 Spyder. Which of the following is the most rational explanation for Audi's decision to associate itself with the movie?

A) to express commitment to the community or on social issues B) to identify with a particular target market or lifestyle C) to create experiences and evoke feelings D) to become part of a personally relevant moment in consumers' lives E) to entertain key clients or reward key employees

Business