The pro forma balance sheet __________.
A) is a picture of the business at a certain moment in time
B) covers a period of time
C) relies on the income and cash flow statements to justify some of the figures
D) is a picture of the business at a certain moment in time and relies on the income and cash flow statements to justify some of the figures
E) All of the answers are correct.

Question

Quizplus · Accepted Answer

The pro forma balance sheet is a snapshot of the business's financial position at a specific point in time and uses figures from the income and cash flow statements for justification.

The Pro Forma Balance Sheet __________