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Creating budgets or financial forecasts

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Reference no: EM133239745

Question 1. What are the similarities between creating budgets or financial forecasts for next year and preparing an expectation of the financial results for this year?

Question 2. In your team discuss the relationship between quantity and price with respect to total sales. Talk about this in terms of the income statement and not in terms of the economic demand curve. How can we use these relationships to consider fluctuations in sales?

Question 3. Brainstorm and list other accounts on the income statement that vary in relation to sales.

Question 4. Discuss your know knowledge of the auto supply industry. What would you expect sales for the year ending 2022 to be - more or less than the prior year? Why?

Reference no: EM133239745

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