opinion exception that is not of sufficient magnitude to invalidate the statement 45. If the financial statements examined by that contains an an auditor lead the auditor to issue an as a whole, the opinion is said to be unqualified A) qualified ) adverse C) exceptional D) 46. A financial forecast presents to the best of the responsible party's knowledge and belief, A) entity's expected financial position, results of operations, and cash flows. an an assessment of the company's ability to be successful in the future ) hypothetical assumptions C) given position, results of operations, and cash flows D) entity's expected financial one or more an a subjective assessment of the company's ability to be successful in the future under a number of different assumptions. 47. Which of the following best characterizes the difference between a financial forecast and a financial projection? Forecasts include a complete A) only summary financial data ) set of financial statements, while projections include A forecast is normally for a full year or more and a projection presents data for less than a year. A forecast attempts to provide information on what is expected to happen, whereas C) a projection may provide information on hypothetical assumptions. D) A forecast includes data which can be verified about future expectations, while the data in a projection is not susceptible to verification