Question

sales forecasts . multiple select question. should not be used for audit decisions help auditors understand management's strategy can be used in valuing inventory

Answer 1

Sales forecasts help auditors understand management's strategy

can be used in valuing inventory

What are sales forecasts?

A sales forecast is an indication of predicted sales revenue. What your business expects to sell during a specific time period is estimated by a sales forecast (like a quarter or year). The most accurate sales projections do this. By providing knowledge of the probable behavior of your most valued clients, sales forecasting aids in achieving this revenue efficiency. In addition to enhancing pricing, advertising, and product development, you may forecast future sales. The ability of your business to predict future revenues across particular time periods in order to better manage resources is one of the benefits of sales forecasting.

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