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Basic Question 3 of 7
Which is NOT an example of an accounting practice that creates "hidden reserves"?
B. Assets are eliminated entirely from the books.
C. Liabilities are overvalued.
A. Over-depreciation results in assets and net worth being carried on the firm's financial statements at less than market value.
B. Assets are eliminated entirely from the books.
C. Liabilities are overvalued.
User Contributed Comments 2
| User | Comment |
|---|---|
| tung | it's outright steal, not accounting. |
| maryprz14 | Asset disappear! lol |
I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
describe a spectrum for assessing financial reporting quality
explain the difference between conservative and aggressive accounting
CFA® 2024 Level I Curriculum, Volume 3, Module 10.