Within the context of forecasting, which is the foundation of the forecast financial statements? (i.e. drives most other forecast elements) a. Sales forecast. b. Net profit margin c. Cash to cash cycle d. Current ratio e. Asset Turnover In terms of confidence and degree of accuracy, which financial statement is the most difficult to forecast? a. Income Statement. b. Balance Sheet. c. Statement of Cash Flows d. Cash flow from operating activities e. Cash flow from financing activities In terms of sequence of forecasting financial statements, which is the first to be done? a. Income Statement. b. Balance Sheet. c. Statement of Cash Flows d. Cash flow from operating activities e. Cash flow from financing activities Which statistic measures the percent variation of the dependent variable that is explained by the variation in the independent variable? a. Beta b. Published Beta c. The estimation period d. R-squared e. Correlation coefficient Which of the following stock return series has the least of amount of noise and is best suited to beta estimation when using a sample size of 60 observations? a. Daily returns b. Weekly returns c. Monthly returns d. Annual returns e. Decade returns