Statements that show the financial statements as if proposed transactions had already occurred are called:
A) Temporary statements.
B) Interim statements.
C) Pro forma statements.
D) Professional statements.
E) Simplified statements.

Question

Quizplus · Accepted Answer

Pro forma statements show the financial statements as if proposed transactions had already occurred. They are often used for forecasting or evaluating the potential impact of proposed transactions on the company's financial position. Temporary statements, interim statements, professional statements, and simplified statements are not specific terms used to describe this type of financial statement.

Statements That Show the Financial Statements as If Proposed Transactions