Multiple Choice
As discussed in the text, when estimating sales revenue for the pro forma income statement, it is most important to __________.
A) be conservative so the numbers are more realistic
B) use your own judgement, as no one knows the market better than the entrepreneur
C) rely on market research
D) be optimistic so the numbers will be motivating
E) None of the answers apply.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: To be accurate, amounts for the operating
Q13: A simple determination of cash received versus
Q14: Brenda's pro forma balance sheet shows assets
Q15: Discuss the difference between profit and cash
Q16: Jack plans to start his new business
Q18: Discuss the concept of breakeven analysis, how
Q19: When preparing the pro forma income statement,
Q20: Which of the following would be an
Q21: An example of a capital expenditure that
Q22: The financial ratio that is considered crucial