QUESTION 17 2 Which of the following statements is false with regard to quality of financial reporting? Use the following information to answer questions 18 through 20 ABC Company purchases five products for sale in the order and at the costs shown: Unit Cost per Unit 2 3 4 $10 $12 $15 $18 $13 O The closer that the picture pfesented thiough the financial data is to reality, the higher the quality of financial reporting It is unlikely that management can manipulate the bottom line due to the regulations in place to enforce GAAP OFinancial information should be useful both to assess the past and predict the future. -> Financial statements should reflect an accurate picture of a company's financial condition and performance