A company with low earnings quality is more likely to report ________ than a company with high earnings quality
A) high earnings in the future
B) low earnings in the future
C) high revenue levels in the future
D) decreasing operating expenses, compared to sales, in the future
B
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Which statement is true concerning IFRS?
A. IFRS will change the way transactions are recorded. B. IFRS will change the format of the trial balance. C. IFRS will cause companies to report less profit than under U.S. GAAP. D. IFRS may differ somewhat in principles from U.S. GAAP.
Which of the following best describes the annual percentage rate?
A) the quoted interest rate which, considered with the compounding period, gives the effective interest rate B) the effective annual rate, after compounding is taken into account C) the discount rate, when compounded more than once a year or less than once a year D) the discount rate, when effective annual rate is divided by the number of times it is compounded in a year