ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In the financial section, a new business must include both current and pro forma financial statements.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -A pro forma statement estimates your company’s future financial performance. It shows your expected revenue and expenses and can be used to assess the viability of your business. Both pro forma statements and budgets can be useful tools for businesses.
Detailed explanation-2: -A set of financial statements includes two essential statements: The balance sheet and the income statement.
Detailed explanation-3: -Pro forma financial information in accordance with Regulation S-X Article 11 is typically required and presents the accounting impact of the business combination.
There is 1 question to complete.