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(TCO 1) Trend analysis studies are the (Points 5)

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7. (TCO 1) Trend analysis studies are the (Points : 5)

       future forecasted results for a firm.

 

       trends occurring in current year numbers.

 

       financial history of a firm for comparison.

 

       None of the above

 

 

Question 8.

8. (TCO 7) Which of the following is not a type of audit opinion? (Points : 5)

       Unqualified opinion

 

       Qualified opinion

 

       Adverse opinion

 

       Clean opinion

 

 

Question 9.

9. (TCO 2) A times interest earned ratio of 0.90 to 1 means (Points : 5)

       that the firm will default on its interest payment.

 

       that net income is less than the interest expense.

 

       that the cash flow is less than the net income.

 

       that the cash flow exceeds the net income.

 

       None of the above

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