In a period of rising sales utilizing past cost and expense, Ask an Expert

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In a period of rising sales, utilizing past cost and expense ratios (percent-of-sales method) when preparing pro forma financial statements will tend to ________.

A. overstate costs and understate profits

B. understate costs and understate profits

C. understate costs and overstate profits

D. overstate costs and overstate profits

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91697767

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