CORRECT THE SENTENCES: Identify the word that makes the sentence incorrect and write down the correct one.
1. Market prices tend to be relatively high in a very competitive business.
2. After forecasting Sales and Cost of Sales, the Gross profit figures can be derived
by adding the Cost of Sales from Sales.
3. The financial forecaster can go through each Operating Expense item and
determine how it will behave in the future as Sales rise.
4. Once all the Operating Expenses are computed, they should be summed up.
The total is then added from the Gross Profit forecasted in order to derive
Operating Profit.
5. Once Current Liabilities must be individually looked up. Prepaid insurance, for
example, can be determined by examining how much premium will be required
to insure the company’s properties for the coming year.​