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Which of the following is not a factor that can lead to companies misrepresenting their financial position? a. Performance is below their industry's average performance.

Which of the following is not a factor that can lead to companies

misrepresenting their financial position?

a.

Performance is below their industry's average performance.

b.

Performance is significantly above their own past performance.

c.

The company has an established and well-defined code of corporate ethics.

d.

Their CEO receives a high proportion of total compensation as stock options

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