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8. The percentage of sales method has been used to forecast the firms financial statements....

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Accounting

8. The percentage of sales method has been used to forecast the firms financial statements. Sup-pose one of the senior executives asked you what assumptions are implied when one uses the percentage of sales method. That is, under what circumstances would the percentage of sales method produce a valid, as opposed to an incorrect, forecast? How would you answer? 9.

9.What are some other methods that could be used to forecast the asset-and-liability balances and, thus, the forecasted financial requirements? If the senior executives asked you to incor-porate these procedures into your analysis, how would you do it, how long would it take, and what additional data would you require

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