If a Financial Statement Is Labeled "Pro Forma," This Means

question 119

True/False

If a financial statement is labeled "pro forma," this means that the statement was prepared by a professional accountant (usually the firm's auditor)following a prescribed format.

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Definitions:

Manifest Function

Clearly recognized and intended consequences of any social pattern or activity within a society.

Anticipated Outcome

The expected result or consequence of an action, process, or situation, often based on prior knowledge or hypotheses.

Dysfunction

The negative consequence of a social process that disrupts the operation of a system or organization.

Latent Function

The unintended, often unrecognized, consequences or effects of social structures or institutions that may influence societal behavior or outcomes.