1. Which type of report would you prepare when engaged to prepare forecasted statements?

a. An audit type report

b. Merely a compilation report

c. None of the answers is correct

d. A review type report

2. Which ratio will help with determining accounts receivable balance?

a. Days Inventory Outstanding

b. of these would help

c. Days Sales Outstanding

d. Days Payable Outstanding

3. The most important inputs in a financial model are

a. Economic forecast

b. Probabilities

c. Assumptions

d. The business model