Which of the following statements is incorrect?
a. forecasting sales is the first step in creating projected financial
statements
b. financial forecasting tends to be more accurate for mature ventures than for early-stage ventures
c. forecasting is relatively unimportant for early-stage ventures with little historical financial data
d. a and b
e. a and c
Answer: forecasting is relatively unimportant for early-stage ventures with little historical financial data
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