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The first, and most critical, step in constructing a set of pro forma financial statements is the sales forecast.
Legal Consent
An agreement made by someone with full understanding and willingness, often pertaining to legal contracts or medical procedures.
Mutual Mistake
A misunderstanding or error shared by all parties to a contract about a fundamental fact that is central to the contract, potentially voiding the agreement.
Basic Assumption
A fundamental belief or premise that is accepted as true without proof.
Genuine Assent
An agreement to enter into a contract that is not clouded by factors such as fraud, duress, undue influence, or mistake.
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