B IS CORRECT. ABC’S FINANCIAL STATEMENTS ARE GAAP COMPLIANT BUT CAN...

1. - CFA 2018 LEVEL 2 FRA QUESTION BANK EVALUATING QUALITY OF FINANCIAL REPORTS QBANK
CFA 2018 LEVEL 2 FRA QUESTION BANK EVALUATING QUALITY OF FINANCIAL REPORTS QBANK

1. B is correct. ABC’s financial statements are GAAP compliant but cannot be relied upon to

assess earnings quality.