1. Which statement regarding forecasting is false?

Group of answer choices

If you are only forecasting cash then the cash flow statements are the only one you need to prepare

You should review historical financial statements

The base year is the year imediately before the first year you are forecasting

Typically you use the base year as your starting point forecasting

2. Which statement is true regarding "how well your forecasted statements match actual results?"

Group of answer choices

You should consider future economic conditions

All statements are true

Rarely are forecasted and actual results the same

You should monitor or make compariosns each year in order to make necessary adjustments to fture forecasts