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Basic Question 4 of 7
______ are at the bottom of the quality spectrum of financial reports.
B. GAAP compliant but very low earnings quality statements
C. Fictitious transactions
A. Biased choices within GAAP
B. GAAP compliant but very low earnings quality statements
C. Fictitious transactions
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 |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
compare financial reporting quality with the quality of reported results (including quality of earnings, cash flow, and balance sheet items)
CFA® 2025 Level I Curriculum, Volume 3, Module 10.