Financial statements containing estimated or hypothetical information are called:
A) pro forma statements.
B) assumed income statements.
C) tentative balance sheets.
D) annual report statements.

Question

Quizplus · Accepted Answer

Pro forma statements include estimated or hypothetical information, such as projected income statements, balance sheets, and cash flow statements. These statements are typically used for future planning or to project the potential impacts of a new business or investment.

Financial Statements Containing Estimated or Hypothetical Information Are Called