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Which of the following categories on the quality spectrum is the lowest quality that is still GAAP compliant? a. GAAP compliant but biased accounting. b.

Which of the following categories on the quality spectrum is the lowest quality that is still GAAP compliant?

a.

GAAP compliant but biased accounting.

b.

GAAP compliant but earnings management exists.

c.

GAAP compliant, relevant and faithful representation but questionable sustainability, low earnings quality.

d.

GAAP compliant, relevant and faithful representation, sustainable, enables adequate returns.

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