The balance sheet is used to project future cash receipts.

True

False

@seniors31007

The answer is False.

Step-by-step explanation:

The balance sheet is used to project future cash receipts. This is false.

Balance sheets are made for analyzing the last financial year's statement of profit and loss, cash flows, liability and assets calculation. The projection of future cash receipts does not come under balance sheet. For these projection, balance sheet is required, but balance sheets are NOT used to project the future cash receipts.

True

Step-by-step explanation:

I'm 99% sure but I could be wrong