Correct Answer: D

Explanation: If an auditor decides that he or she is the principal auditor and that he or she can use the other auditor's report, because the other auditor is reputable and independent, the principal auditor must decide whether or not to make reference to the other auditor. If the principal auditor decides not to refer to the other auditor, he or she should visit the other auditor, discuss the procedures followed, and review the audit program and working papers of the other auditor.

The remaining answer choices are incorrect for the following reasons:

• If the principal auditor decides not to refer to the other auditor, no references of any kind would be made in the report.
• Assuming no responsibility for the other CPA's work and opinion would not fulfill the principal auditor's reporting responsibilities.
• Permission would only be necessary if the principal auditor decides to refer to and name the other auditor.

Today's question: REG

Under the Sales Article of the UCC, which of the following events will release the buyer from all its obligations under a sales contract?

A)   Destruction of the goods after risk of loss passed to the buyer.

B)   Impracticability of delivery under the terms of the contract.

C)   Anticipatory repudiation by the buyer that is retracted before the seller cancels the contract.

D)   Refusal of the seller to give written assurance of performance when reasonably demanded by the buyer.

D