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7. The term additional funds needed (AFN) is generally defined as follows: a. Funds that are obtained automatically from routine business transactions. b. Funds that

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7. The term additional funds needed ("AFN") is generally defined as follows: a. Funds that are obtained automatically from routine business transactions. b. Funds that a firm must raise externally from external sources, i.e., by borrowing or by selling new stock, to support operations. c. The amount of assets required per dollar of sales. d. A forecasting approach in which the forecasted percentage of sales for each balance sheet account is held constant

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