1-A firm has projected sales in May June and July of $100,$200 and $300 respectively the firm makes 20 percent of sales for cash and collects the balance one month following the sale the firms total cash in July
a- are $220
b-are $200
c- are$180
d- cannot be determined with the information provided
2-the key inputs for preparing pro forma income statements using the simplified approaches are the
a-sales forecast for the preceding year and finacial statements for the coming year
b-sales forecast for the coming year and the cash budget for the preceding year
c- sales forecast for the coming year and financial statement for the preceding year
d-cash budget for the coming year and sales forecast for the receding year
3-the-----------method of developing a pro forma income statement forecasts sales and values for the cost of goods sold operating expenses and interest expense that are expressed ratio of projected sales
a-percent of sales
b-accrual
c-judgmental
d-cash