Which of the following statements is NOT accurate regarding pro forma financial statements?
A) In order to construct pro forma statements you generally forecast unit sales first.
B) Pro forma statements are generally prepared for more than one year in advance.
C) Pro forma statements merely represent the best current estimate of the future.
D) Pro forma statements need only be prepared when applying for a bank loan.
E) It is important that pro forma statements be as accurate as possible.
Correct Answer:
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