[CLO2] Delayed write-downs of non-current assets may result in O None of these O Overstated assets O Understated assets O Understated equity [ CLO 2] The following may NOT result in understated liabilities O Aggressive revenue recognition O Understated pensions and post-retirement obligations O Overstated pensions and post-retirement obligations O Off-balance-sheet non-current liabilities [ CLO 3] In accounting analysis, the following is NOT among the criteria for recognizing assets. O The future economic benefits are measurable with a reasonable degree of certainty. O Resources are rare O Resources are owned by the firm O Resources are expected to provide future economic benefits sufficient to recover their cost. All these statements are True except O The asset Turnover is Total assets divided by equity O The return on operating asset is the product of the net operating profit margin and the operating asset turnover. O The difference between operating return on asset and the effective interest rate after tax is called the spread. O Current ratios indicate short term debt paying ability of a firm. O To compute the quick ratio, trade receivables are not included in current assets