Which of the following is NOT true?
A)The process of preparing financial forecasts begins by preparing a projected income statement.
B)In preparing a projected income statement, start with a sales or revenue forecast prepared by marketing personnel.
C)The relationship between sales and some costs may be complex, for example sales and fixed costs.
D)Interest expenses are commonly based on a percentage of sales.

Question

Quizplus · Accepted Answer

Interest expenses are not commonly based on a percentage of sales. They are typically based on the amount of debt a company has and its interest rate.

Which of the Following Is NOT True