1. Which of the following would be kept on the permanent audit file?
   1. Organisation chart.
   2. Current audit programs.
   3. Panning information for the current audit.
   4. Adjusting entries
2. Which of the following is not indicative of a related-party transaction?
   1. An unusually large sale of merchandise to the companys best and largest customer.
   2. Loans to the companys directors at market rates of interest.
   3. Exchange of equipment between two companies owned by the same person.
   4. Sales of merchandise between a parent company and its subsidiary.