A pro forma income statement: Group of answer choices

forecasts revenue and expenses for a future period

summarizes sales and expenditures for the previous year

displays revenues and expenses for the past month

is used to complete a common-size income statement

Question

Business

Snake

3 January, 18:40

A pro forma income statement: Group of answer choices

forecasts revenue and expenses for a future period

summarizes sales and expenditures for the previous year

displays revenues and expenses for the past month

is used to complete a common-size income statement

+4

Answers (1)

Know the Answer?

Lillianna Gordon · Answer 1

forecasts revenue and expenses for a future period

Explanation:

As we know that

The income statement records the revenues earned and the expenses incurred for the particular period

The expenses are shown on the debit side whereas the revenues are shown on the credit side

On the other hand, the pro forma income statement is the income statement that is prepared on the projection, estimates for a future period.

A pro forma income statement: Group of answer choicesforecasts revenue and expenses for a future periodsummarizes sales and expenditures for the previous yeardisplays revenues and expenses for the past monthis used to complete a common-size income statement

A pro forma income statement: Group of answer choices

forecasts revenue and expenses for a future period

summarizes sales and expenditures for the previous year

displays revenues and expenses for the past month

is used to complete a common-size income statement