An organization was in the process of establishing its new internal audit department. the controller had no previous experience with internal auditors. due to this lack of experience, the controller advised the applicants that they would be reporting to the external auditors. however, the new director of internal audit would have free access to the controller to report anything important. the controller would convey the director’s concerns to the board of directors.
which of the following is true?
a: the internal audit department will be independent because the director has direct access to the board of directors.
b: the internal audit department will not be independent because the director reports to the external auditors.
c: the internal audit department will not be independent because the controller has no experience with internal auditors.
d: the internal audit department will not be independent because the company did not specify that the
applicants must be certified internal auditors.

Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?