Final answer:
Pro forma sources and applications of funds summarize all the projected sources of funds available to the venture and how these funds will be disbursed. Correct option is 1)
Step-by-step explanation:
The statement is true. Pro forma sources and applications of funds do indeed summarize all the projected sources of funds available to a venture and how these funds will be disbursed. It is an important tool used in financial planning and analysis to project the future cash flows and funding needs of a business.