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Financial Forecasting Objectives and Planning Documents

5 Questions

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Financial Forecasting Objectives and Planning Documents

Created by

@ProminentKangaroo

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Questions and Answers

What are the objectives of financial forecasting?

To ignore future opportunities

To decrease cost of responding to emergencies by anticipating future occurrences (correct)

To increase cost of responding to emergencies

To respond only to past opportunities

What are the three planning documents required in financial planning?

Cash Flow Statement, Balance Sheet, Income Statement

Budgeted Income Statement, Budgeted Balance Sheet, Cash Budget

Cash Budget, Pro Forma Balance Sheet, Pro Forma Income Statement (correct)

Expense Budget, Profit & Loss Statement, Cash Flow Statement

What does 'pro forma' refer to in financial planning documents?

Forecasting (correct)

Budgeting for the present

Analyzing current trends

Reviewing past data

Which method is commonly used for preparing pro forma statements?

<p>Percentage of Sales</p> Signup and view all the answers

What is the difference between Cash Budget and Percentage of Sales method in forecasting?

<p>Cash Budget is simple, while Percentage of Sales is more complicated</p> Signup and view all the answers

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