The financial statements and the budget plans of some companies are also called ___________?
Correct answer: B. preformed statement
- A. cost statement
- B. preformed statement
- C. sales statement
- D. market statement
Explanation
These are called pro forma statements, which present projected financial results or plans for future periods. “Preformed” is a misspelling, but option b clearly intends pro forma statements.
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About Financial Statements
Financial statements present a business's financial performance and position through the income statement, statement of financial position, cash flow statement and changes in equity. Questions involve preparing and interpreting these statements, adjusting entries, depreciation, closing inventory, accrued and prepaid items, and distinguishing profit from cash flow.
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