NO NEED FOR ANY EXPLANATIONS. Only need the answer.

Question 7 (0.25 points) Which statement would not be found in a directors' declaration? O a) that the financial report gives a true and fair view. b) that the financial report is free from material misstatement whether due to fraud or error. c) that in the directors' opinion, there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due. d) that in the directors' opinion, the financial report is in accordance with the law. Question 8 (0.25 points) Under the going concern assumption: 0 a) an entity is viewed as continuing in business for the foreseeable future. 0 b) an entity is viewed as not likely to continue in operation for the foreseeable future. 0 C) an entity's assets and liabilities are recorded at liquidation values. 0 d) an entity is considered to be a separate legal entity from its owners. Question 9 (0.25 points) Each income statement account is linked to at least one balance sheet account. Which of the following would be the related income statement account for the balance sheet account of inventories? O a) sales. 0 b) cost of sales. 0 C) depreciation expense. 0 d) none of the above. Question 10 (0.25 points) The auditor has decided that the financial statements are affected by an uncertainty that is not susceptible to reasonable estimation at the balance sheet date. If this uncertainty is adequately disclosed in the financial statements, the auditor's report should contain a/an: O a) qualified opinion. 0 bl adverse opinion. 0 C) disclaimer of opinion. 0 d) unqualified opinion with an 'emphasis of matter' paragraph. Question 11 (0.25 points) The audit program is basically a list of: O a) account balances and their related assertions. O '3) control policies and procedures to be tested. 0 C) audit procedures to be performed. 0 d) detailed audit objectives. Question 12 (0.25 points) An adverse opinion means: 0 a) a qualification of the auditor's report indicating that there are significant and pervasive misstatements in the financial report. 0 b) the auditor is uncertain about expressing an opinion. 0 c) the financial report is fairly presented, except for a specific reservation, deficiency or Other shortcoming. Q d) the financial report is prepared in accordance with a financial reporting framework and are generally acceptable to the auditor