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