Multiple Choice
Which of the following statements is false regarding a company's budgeted financial statements?
A) They are used for internal planning purposes.
B) They are often called pro forma financial statements.
C) Lending institutions should not use them as a basis for granting a loan.
D) An error in the preparation of one budget often affects one or more other budgets.
Correct Answer:
Verified
Correct Answer:
Verified
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