Currency futures contracts have become standard fare and trade readily in the world money centers

Under which of the following circumstances would a disclaimer of opinion not be appropriate?

a. The auditor is engaged after fiscal year-end and is unable to observe physical inventories or apply alternative procedures to verify their balances. b. The auditor is unable to determine the amounts associated with fraud committed by the client's management. c. The financial statements fail to contain adequate disclosure concerning related party transactions. d. The client refuses to permit its attorney to furnish information requested in a letter of audit inquiry.

When developing a sales training program, sales managers must consider:

A. Who should be trained B. Whether the training should be on-the-job or formal C. What should be the primary emphasis in the training program D. How should the training process be structured E. All of the above