A financial forecast consists of prospective financial statements that present and entity's expected financial position, results of operations, and cash flows. A forecast
a. Is based on the most conservative estimates
b. Presents estimates given one or more hypothetical assumptions
c. Unlike a projection, may contain a range
d. Is based on assumptions reflecting conditions expected to exist and courses of action expected to be taken
Ans: d. Is based on assumptions reflecting conditions expected to exist and courses of action expected to be taken
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