Which of the Following Depicts a Common Top-Down Approach to Forecasting

Which of the following depicts a common top-down approach to forecasting?

A) Begin with a company's sales forecast for a specific market segment, then draw national and industry sales forecasts.
B) Start with an industry forecast, then apply it to a specific company and its products, and subsequently draw a national income forecast.
C) Start by developing a national income forecast; then use it to develop an industry sales forecast; then use it to develop forecasts for a specific company, its specific products, and the segments it targets.
D) Start by developing a national income forecast, then develop a forecast for a specific company, which should lead to an industry sales forecast.
E) None of these alternatives is correct.