1. The reliability of a short-term cash forecast depends most heavily on the quality of:

a. Cost of goods sold forecast 

b. Current ratio forecast 

c. Sales forecast 

d. Shares outstanding forecast 

2. What is the correct order of the following steps in preparing a projected income statement (not all steps may be show):

i. Project future net sales 

ii. Project future net income 

iii. Project future cost of goods sold 

iv. Project future interest expense

Choose one answer a i, ii, iii, iv