Firms choices and estimates within U.S. GAAP or IFRS should be determined by all of the following except:

• A. firms underlying economic circumstances.

• B. conditions in the companys industry.

• C. the companys competitive strategy.

• D. accelerated management efforts to meet earnings projections.

Examples of poor earnings quality that hinder the forecasting of expected future earnings include all of the following except:

• A. Earnings dominated by a substantial one-time gains from the sale of real estate tangential to the firms operations.

• B. Reporting a large expense from a warehouse fire that was not covered by insurance.

• C. A local government corrects a processing error and a firm receives an unexpected rebate on property taxes previously paid.

• D. The company adds equipment that reduces carbon emissions in response to EPA requirements and increases production efficiency.