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
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the business’s legal structure
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pro forma financial statements
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current financial statements
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income tax returns
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Explanation:
Detailed explanation-1: -A pro forma financial statement leverages hypothetical data or assumptions about future values to project performance over a period that hasn’t yet occurred. In the online course Financial Accounting, pro forma financial statements are defined as “financial statements forecasted for future periods.
Detailed explanation-2: -Financial Projections These forward-looking financial statements are often called pro-forma financial statements or simply the “pro-formas.” They include an overall budget, current and projected financing needs, a market analysis, and the company’s marketing strategy.
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