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Envisioned Creation
on Nov 27, 2024

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Intentional misstatement of estimates

A) are highly unusual in financial reporting.
B) do not have any impact on earnings.
C) are unlikely to draw attention from the external auditor if they fall within acceptable ranges.
D) are acceptable under GAAP.

Intentional Misstatement

Deliberate falsification or omission of information in financial records or statements.

Financial Reporting

The method by which declarations are created to reveal the financial condition of an organization to its managers, investors, and governmental bodies.

External Auditor

An independent third-party professional who examines the financial statements of a company to provide an opinion on their accuracy and compliance with accounting standards.

  • Review the moral considerations and effects tied to the adjustment of earnings and intentional distortions.
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Pooja PatilDec 01, 2024
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