Which of the Following Statements Is Incorrect

question 14

Multiple Choice

Which of the following statements is incorrect?

• A)forecasting sales is the first step in creating projected financial
• Statements
• B)financial forecasting tends to be more accurate for mature ventures
• Than for early-stage ventures
• C)forecasting is relatively unimportant for early-stage ventures with
• Little historical financial data
• D)a and b
• E)a and c

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Definitions:

Journal

In accounting, a record where all financial transactions are initially noted before being entered into the company's general ledger.

Reports Center

A dedicated area within a software application or platform where users can create, manage, and view various reports related to their data.

Investors

Individuals or organizations that allocate capital with the expectation of receiving financial returns.

Financing Activities

Transactions and events that affect the long-term liabilities and equity of a company, such as issuing debt or stock.