Which Element in the Projected Income Statement Cannot Be Forecasted

question 90

Multiple Choice

Which element in the projected income statement cannot be forecasted using the percentage-of-sales method?

• A) Cost of goods sold
• B) Selling expense
• C) Administrative expense
• D) Interest expense
• E) All of these items can be forecasted using the percentage-of-sales method.

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Definitions:

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The level of production in a market where the quantity supplied equals the quantity demanded, leading to a state of balance without excess supply or demand.

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