Given one or more hypothetical assumptions,a responsible party may prepare an entity's expected financial position,results of operations,and changes in financial position.Such prospective financial statements are known as:
A)Pro forma financial statements.
B)Financial projections.
C)Partial Presentation.
D)Financial forecasts.

Question

Quizplus · Accepted Answer

Financial projections are based on hypothetical assumptions and are used to present an entity's expected financial position and results.

Given One or More Hypothetical Assumptions,a Responsible Party May Prepare