A firm's pro forma financial statements are similar to its historical financial statements except that they ________.
A) do not include the income statement
B) are required by the SEC in all cases
C) look back rather than forward
D) look forward rather than back
E) do not include the statement of cash flows

Question

Quizplus · Accepted Answer

Pro forma financial statements are forward-looking projections based on assumptions about future operations and performance. They are not required by the SEC in all cases, and they typically include income statements, balance sheets, and statements of cash flows.

A Firm's Pro Forma Financial Statements Are Similar to Its