CFA Practice Question

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CFA Practice Question

______ are at the bottom of the quality spectrum of financial reports.

A. Biased choices within GAAP
B. GAAP compliant but very low earnings quality statements
C. Fictitious transactions
Correct Answer: C

User Contributed Comments 2

User Comment
timkalt Could someone explain please? Thanks!
dshawkri Fictitious transactions are poor quality. No high quality GAAP statement would contain fake transactions
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