Although most cases of fraudulent financial reporting involve overstatement of assets and income or omission of liabilities and expenses in an attempt to overstate income, it is important to note that companies often deliberately understate income. Describe why an entity might take this course of action and how they would go about achieving their aim.

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The Answer of Although most cases of fraudulent financial reporting involve overstatement of assets and income or omission of liabilities and expenses in an attempt to overstate income, it is important to note that companies often deliberately understate income. Describe why an entity might take this course of action and how they would go about achieving their aim.

Although Most Cases of Fraudulent Financial Reporting Involve Overstatement of Assets