In Developing the Pro Forma Income Statement, We Follow Four

question 13

Multiple Choice

In developing the pro forma income statement, we follow four important steps: 1) Compute other expenses
2) Determine a production schedule
3) Establish a sales projection
4) Determine profit by completing the pro forma income statement
What is the correct order for these four steps?

• A) 1,2,3,4
• B) 3,2,4,1
• C) 2,1,3,4
• D) 3,2,1,4

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