An audit committee is primarily responsible for overseeing the organization's financial reporting and internal control processes. Their main focus areas include ensuring compliance with legal and regulatory requirements, the effectiveness of internal controls, and the accuracy of financial reporting.
* Paperwork needed to remain compliant with regulations: While important, this is more operational and administrative in nature.
* Whether policy changes will optimize profits: This falls under strategic decision-making, which is typically outside the primary scope of an audit committee.
* The existence of appropriate internal controls: This is a critical responsibility of the audit committee.
They must ensure that there are adequate internal controls to prevent fraud, errors, and ensure accurate financial reporting.
* Forecasted sales and revenues: This is more related to financial planning and analysis, not the direct focus of the audit committee.
Thus, the most appropriate for review by an audit committee is the existence of appropriate internal controls.
References:
* Institute of Internal Auditors (IIA) standards on audit committee responsibilities.
* Corporate governance literature on the role of audit committees.

To calculate the projected time required to produce the eighth unit under an 80% learning curve, we use the learning curve formula. The learning curve indicates that each time production doubles, the time required per unit decreases to 80% of the previous time.
The formula for the learning curve is: =1×log( )Tn=T1×nlogb(learning curve) Where:
* Tn is the time for the nth unit.
* 1T1 is the time for the first unit (30 minutes).
* n is the unit number (8).
* b is the base of the logarithm (2 for doubling).
* Learning curve = 0.80.
Using the formula: 8=30×8log2(0.80)T8=30×8log2(0.80) 8=30×80.3219T8=30×80.3219 8=30×0.512T
8=30×0.512 8=15.36 minutesT8=15.36 minutes
References:
* Chase, R. B., Jacobs, F. R., & Aquilano, N. J. (2006). Operations Management for Competitive Advantage. McGraw-Hill.
* Learning curve theory and application articles from professional operations management resources.

The primary issue faced by ABC, Inc.'s international sourcing team is the delay in processing contracts due to the need for multiple internal approvals from international suppliers and member firms. The best course of action should streamline the contract execution process, reducing the time taken for internal approvals and facilitating quicker commencement of services by suppliers.
Option A suggests allowing suppliers to start implementing services upon reaching an agreement in principle.
This can lead to legal and compliance issues if the formal contract does not reflect the agreed terms or if it is not finalized in time.
Option C proposes hiring additional staff, which could alleviate the workload but may not address the core issue of procedural delays. Additionally, it increases operational costs.
Option D recommends allowing member firms to execute contracts directly, which can lead to inconsistencies and a lack of centralized control over contracts, potentially resulting in quality and compliance issues.
Option B, subscribing to a digital signature service, directly addresses the delay issue by enabling faster execution of contracts through online approvals. Digital signatures are legally binding in many jurisdictions and can streamline the approval process significantly. This approach maintains the quality and consistency of the contracts while reducing the time required for execution.
References:
* Institute for Supply Management (ISM) guidelines on contract management.
* Research on the benefits of digital signature services in supply chain management.

* Context of Negotiation: The phrase "This is our best and final offer" is a strong statement in negotiations.
* Risk Assessment: This tactic can abruptly end negotiations if the other party is not willing to accept the terms.
* Alternative Readiness: Using this tactic effectively requires the buyer to have a viable alternative in case the offer is rejected.
* Strategic Use: It should be employed when the buyer is confident that the offer is competitive and fair, and when there is leverage from alternative suppliers or options.
* Potential Drawbacks: It might strain relationships if perceived as inflexible or final.
* Conclusion: While it can shorten negotiations, it carries significant risk and should be used judiciously with alternative plans in place.
References
* Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William Ury.
* Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond by Deepak Malhotra and Max H. Bazerman.