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betterway betterway
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7 years ago
The percent-of-sales method to prepare a pro forma income statement assumes a firm has no fixed costs. Therefore, the use of the past cost and expense ratios generally tends to ________ profits when sales are increasing.
A) accurately predict
B) overstate
C) understate
D) have no effect on
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
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alovelyalovely
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"It is better to fail in originality than to succeed in imitation."

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betterway Author
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#2
6 years ago
Thank you
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