Answer the following statement(s) true (T) or false (F)
1. Presenting carefully thought-out financial projections to investors is an exercise in lowering perceived risk in both you as an entrepreneur and your idea.
2. Shari discussed her income statement with you and described her report as reporting what the company owes, what it owns, and her shareholder stake at the last day of the prior month. This statement is an income statement.
3. Bill’s business has sales of $100,000, inventory of $20,000, cost of goods sold of $31,000, and general and administrative expenses of $45,000. Bill’s gross profit is $69,000.
4. Bill’s business has sales of $100,000, inventory of $20,000, cost of goods sold of $31,000, and general and administrative expenses of $45,000. Bill’s operating profit is $4,000.
5. Bill’s business has sales of $100,000, inventory of $20,000, cost of goods sold of $31,000, and general and administrative expenses of $45,000. Bill’s gross profit is $80,000.
1. True
2. False
3. True
4. False
5. False
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