Which of the Following Is Not True Regarding a Target's

Multiple Choice

Which of the following is not true regarding a target's previous cash flows?

A) They may serve as an initial base from which future cash flows may be estimated aFter accounting for other factors.
B) It may be easier to estimate the cash flows to be generated by a target than to estimate the cash flows to be generated from a new foreign subsidiary.
C) They are always good indicators of future cash flows.
D) All of the above are true.