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The managers of Thorn Group Ltd (the owners of Radio Rentals) have discretion over reporting the percentage of accounts receivable they believe they will not

The managers of Thorn Group Ltd (the owners of Radio Rentals) have discretion over reporting the percentage of accounts receivable they believe they will not be paid back. Explain the benefits and disadvantages of having this discretion over financial reporting. When is the discretion in financial reporting likely to lead to biased financial statements?

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