In constructing a pro forma balance sheet a manager can estimate the accounts receivable because:
A) managers typically construct a pro forma income statement prior to the balance sheet. Thus, an estimate of sales has already been made and this is critical to estimating accounts receivable.
B) if the firm has already made an estimate of expected sales, then it can also estimate average daily sales.
C) if the firm maintains similar credit standards it can use the current average age of accounts receivable to help estimate the anticipated average age of accounts receivable
D) if the firm has each piece of information as stated above THEN they can estimate accounts receivable for the pro forma balance sheet..
Question 2
The present value of a deferred annuity (e.g., an annuity that starts 10 years from today) can be
calculated in two steps: (1 ) calculate the future value of the annuity, and (2 ) calculate the present
value of the amount determined in step (1 ).
Indicate whether the statement is true or false
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