Which of the following is the term within the GAAP framework whereby firms can engage in...
Which of the following is the term within the GAAP framework whereby firms can engage in a process of controlling their earnings, otherwise known as "smoothing" their earnings, as long as it's not taken to an extreme.
commingling
delisting
window dressing
earnings management
Homework Answers
Answer:
Correct answer is:
earnings management
Explanation:
Earnings management is a process of deliberately taking steps to bring about a reported level of earnings within constraints of GAAP framework. As such option D is correct.
Option A is incorrect as commingling means mixing a firm's cash with personal funds and is a legal issue.
Option B is incorrect. Delisting is not known for "smoothing" of earnings
Option C is incorrect. Window dressing can also be illegal or fraudulent.
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