Statements That Show the Effects of Proposed Transactions as If

question 71

Multiple Choice

Statements that show the effects of proposed transactions as if the transactions had already occurred are called:

• A) Pro forma statements.
• B) Professional statements.
• C) Simplified statements.
• D) Temporary statements.
• E) Interim statements.

---

Definitions:

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, resulting in harm or damage.

Loss of Income

A monetary loss resulting from an inability to work and earn money due to injury, disability, or other reasons.

Defence

The reasons, facts, or legal arguments presented by the defendant to contest or mitigate the claims made by a plaintiff in a legal case.

Ultimate Consumer

The end-user of a product or service who uses it for personal, non-commercial purposes.