Which of the following is NOT an example of a situation where earnings management (EM) is likely to have occurred? 1. When the growth in sales exceeds the growth in long-term operating assets such as property, plant and equipment 2. When the growth in short-term operating assets such as accounts receivable and inventory is faster than the growth in sales 3. When the growth in short-term operating liabilities is slower than the growth in sales 4. When net operating assets (NOA) increase as a result of the acquisition of another business 4