(Consider the usefulness of audited information, LO 1, 2,3) For each of the following situations explain whether and why having an independent review of the information provided—that is, an audit—would be useful. Suggest the type of person who might be appropriate for conducting the audit.

a. A donut shop advertises that it has the world’s best coffee.

b. A used car dealer says that a car you are interested in is in excellent condition.

c. A store’s rent to the mall owner is $1,200 per month plus 5% of the amount of sales the store makes. For the year just ended the store reports to the mall owner that its sales were $250,000.

d. A graduate university program requests a list of grades a student earned in her undergraduate program.