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An analyst evaluated 3 sets of financial reports. Rank them from the highest to the lowest quality, based on the quality spectrum.
Which of the following is least likely a motivation for under-report current earnings?
Which of the following is least likely a requirement by a local regulatory authority (e.g. SEC) on a public-listed firm?
Which of the following is least likely a sign of earnings manipulation?
A corrupt manager wishes to increase the reported earnings of his company for the current period. The firm has recently made a purchase of a costly machine. Which of the following is least likely to help him achieve his purpose?
The management of a firm is concerned that earnings volatility is affecting the share price of the company, and wishes to smooth out the earnings. Which of the following is least likely to help the management achieve their purpose?
Why is the language of the Learning Outcome Statements (LOS) different from the curriculum?
The LOS are protected under the CFA Institute's copyright, and we don't have permission to duplicate them verbatim. Therefore, we've rephrased the LOS and included alphabetical labels (a, b, c, …) to simplify cross-referencing with the original LOS in the curriculum when needed.
Now available for all Level I topics! Try it now!
Enter a search term (e.g. ‘LIFO reserve’), or bookmark the glossary page!