Jim and Caroline are beginning the audit of a major client, and are discussing methods by which they can gain a better understanding of the client and the industry in which the client operates. Jim advises Caroline that the easiest way to do this would be to simply look at market intelligence reports issued by analysts' firms; however Caroline disagrees, saying that other options are available to help the auditors gain an increased understanding of the client. Which of the following represent ways that this could be achieved? (Select all that apply.) Examining similar sized firms in other industries to develop an expectation for key ratios such as days in receivables and times interest earned. Examining competing companies within the same industry to develop an understanding of key financial metrics and ratios which might pertain to the client. Developing a questionnaire to be given to the client's senior management, requesting full disclosure of all high-risk areas within the firm. Developing an expectation for days sales in inventory, based on calculating this metric for the client and the industry in which the client operates