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On a spectrum for assessing financial reporting quality, which of the following represents the highest quality? Reporting is compliant with GAAP but reporting choices and

On a spectrum for assessing financial reporting quality, which of the following represents the highest quality?

		Reporting is compliant with GAAP but reporting choices and estimates are biased.
		Reporting is compliant with GAAP and decision useful but earnings are not sustainable.
		Reporting is not compliant with GAAP but the numbers presented reflect the company's actual activities

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