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Which of the following is true about pro-forma financial statements? a. Pro-forma financial statements are not required to follow GAAP. b. Pro-forma financial statements CANNOT

Which of the following is true about pro-forma financial statements?

a. Pro-forma financial statements are not required to follow GAAP.

b. Pro-forma financial statements CANNOT use future revenue projections when being prepared.

c. Pro-forma financial statements are a consolidation of line items from the balance sheet and income statement.

d. Pro-forma financial statements must follow accounting standards set forth by the Accounting Association Board.

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