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