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1. Which of the following statements about incentives to manipulate earnings is most correct ?A firm may: understate net income to negotiate labor union contracts.

1. Which of the following statements about incentives to manipulate earnings ismost correct?A firm may:

understate net income to negotiate labor union contracts.

overstate net income to negotiate favorable repayment terms on debt that requires restructuring.

understate net income in order to meet earnings expectations.

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