Question: 1. Identify at least two applications that use forecasted financial statements. 2. In what order do we normally forecast the financial statements? Explain the logic

1. Identify at least two applications that use forecasted financial statements.

2. In what order do we normally forecast the financial statements? Explain the logic of this order.

3. What is meant by internal consistency when applied to forecasting assumptions? Give an example of internal inconsistency.

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