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You are in an executive meeting with the CFO discussing the forecasting plans of the...

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Finance

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You are in an executive meeting with the CFO discussing the forecasting plans of the company. The CFO says, "Forecasting often involves creating forward-looking financial statements known as pro formas, it is important to use forecasting as a tool to help us foresee any potential cash shortfalls in the future. Our forecasts will also help us determine the level of external spontaneous credit we'll need to finance any increases in long-term assets." Which of the above statements made by the CFO is incorrect? statement regarding cash shortfalls all of the statements are correct statement regarding the pro formas statement regarding external financing

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