All real estate investments are treated the same for tax purposes

Which of the following statements about pro forma financial statements is incorrect?

A) Pro forma financial statements are projections for future periods based on forecasts. B) Pro forma financial statements are typically completed for two to three years into the future. C) Pro forma financial statements are required by the SEC. D) Most companies consider their pro forma financial statements to be confidential and reveal them to outsiders only on a "need to know basis." E) Pro forma financial statements are strictly planning tools.

Differentiate between the terms "learning" and "incidental learning."

What will be an ideal response?