Phil Has Put Together the Worksheet Above with a 5-Year

question 99

Multiple Choice

Phil has put together the worksheet above with a 5-year cash flow estimate for his shoe company. He needs to explain the chart to his investors. Please answer the questions below using this figure as a reference.
-Phil also calculates the projected income after taxes in cell C19 using the formula ____.

• A) =C18+C19
• B) =C18-C12
• C) =C18+C16
• D) =C18-C16

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Definitions:

Accounting Standards

Guidelines set by regulatory bodies that dictate how financial transactions and statements should be recorded and reported.

FASB

The Financial Accounting Standards Board, an organization responsible for establishing accounting and financial reporting standards in the United States.

Compromises

Agreements made to settle disputes where each party makes concessions to come to a resolution that is acceptable to all involved.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the United States.