The percent-of-sales method of developing a pro forma income statement forecasts sales and other line items as a ________
A) percentage of projected sales
B) percentage of average sales over a period
C) percentage of projected total assets
D) percentage of average total assets over a period
A
You might also like to view...
Which of following best describes change management?
A. Tracking, monitoring, and protecting a project's critical path B. Continuous assessment of overall project progress as compared to the project plan C. Regularly communicating changes in project status to stakeholders D. Defining, planning, and implementing adjustments to a project
Why did Daniel Defoe believe it was so important to post all credit purchases and payments on account to the ledger as soon as possible after recording them in the journal?
a. Because it was required by law b. So that a dishonest customer didn't attempt to pay less than he owed c. So that an honest customer wasn't asked to pay more than he owed d. So that it was possible to cast up shop