To fully understand the effects of a proposed project, the statement of comprehensive income should be developed as part of the project's pro forma statements.

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Emily Leichliter · Accepted Answer

Final Answer : True, Explanation :  The statement of comprehensive income, as part of the project's pro forma statements, provides a detailed forecast of the project's expected financial performance, including revenues, expenses, and net income, which is crucial for understanding the financial effects of the proposed project.

To fully understand the effects of a proposed project, the statement of comprehensive income should be developed as part of the project's pro forma statements.

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