Which of the Following Would Be a Potential Source of Information

question 30

Multiple Choice

Which of the following would be a potential source of information for a sales forecast?

• A)Past records
• B)Trade associations and the Chamber of Commerce
• C)Similar firms
• D)All of these

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Definitions:

Trial Balance Totals

The sum of all debit and credit balances in a trial balance, used to verify that the total debits equal total credits in double-entry bookkeeping.

Salary Expense

The total amount paid by a company to its employees as wages or salaries before any deductions.

Errors

Mistakes or inaccuracies in the accounting process that can affect financial records and statements.

Horizontal Analysis

A financial analysis technique that compares historical financial information across multiple periods.