Question No. one: Multiple Choice (20 Malks) 1- *Moderating year-to-year fluctuations in income by shifting earnings from peak years to less successful periods is: A) Income smoothing, B) Quality of earnings. C) Relevance D) Faithfull representation, 2- 'Management attempt to bring forward or even overstate expenses in the same period is A) Income smoothing B) Quality of eanings. C) Big bath, D) Faithfull representation.. 3- The concept that is related to how closely current earnings are aligned with future earnings, s. A) Income smoothing. B) Quality of earrings, C) Big bath D) Faithfull representation. 4- The theory that is often used to understand that managers, as agents, are likely to act in their own interest is: FI F9 F10 F12 Insert