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Balance sheets are audited and hence should be honest, correct? A major corporation was caught shifting accounts receivable data to a loan to its dealers.
Balance sheets are audited and hence should be honest, correct? A major corporation was caught shifting accounts receivable data to a "loan" to its dealers. This is wrong because: Group of answer choices It is the duty of the CFO to put out honest, transparent and clear information such that all market participants can best make rational decisions. It is also the law. It changes the end of year cash balance. It could affect the share price Any analyst would spot it immediately
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